Lateral candidates continue to raise ‘red flags,’ research company says
ABA Journal Daily News
ABA Journal Daily News
A pair of parcels closely tied to the ailing Schlitterbahn Waterpark & Resort development on North Padre Island fetched a combined $ 9 million during an auction Tuesday afternoon at the Nueces County Courthouse. Austin-based Axys Capital Credit, the company that provided the initial financing for the land, ended up with it. Foreclosure News
As we've reported, the project's legal troubles have led up to a bankruptcy hearing this week, where a federal judge ruling placed the project officially in Chapter 11 bankruptcy. Now in Chapter 11, all plans to build a water-front, resort-like experience on Padre Island are officially on hold. Foreclosure News