Nate Paul, the embattled Austin real estate investor whose World Class Holdings empire collapsed amid federal investigations and legal troubles, recently saw one of his properties emerge from bankruptcy again. The WC Paradise Cove Marina on Lake Travis exited Chapter 11 protection following approval of a $6 million loan from WM Capital Partners at a high 14.5% interest rate. This financing allowed the property to pay off approximately $5.6 million in existing debts and overdue property taxes, with Paul valuing the 267-acre marina at $8 million. The dismissal marks the second time the marina has navigated bankruptcy in recent years, providing a rare positive development amid Paul's ongoing financial woes, including multiple foreclosures and unpaid taxes on other holdings.
Once celebrated as a young real estate prodigy featured in Forbes, Paul's fortunes unraveled after a 2019 FBI raid on his offices. He faced federal charges for making false statements to lenders, including inflating ownership stakes to secure loans, and was accused of bribing Texas Attorney General Ken Paxton to interfere with investigations and foreclosures—allegations that contributed to Paxton's 2023 impeachment and acquittal. Paul ultimately pleaded guilty to one felony count, receiving house arrest, a $1 million fine, and five years of supervised release. His debts have persisted, leading to repeated bankruptcies as a strategy to stave off creditors.
Lake Travis has a new barbecue option. Good BBQ Company, which got its start as a food trailer on East 12th Street in Austin, is now open at its second location inside Lake Trav...
Construction is underway on Pickleball Grove, a planned 15-court racquet sports complex at 5411 Reimers Peacock Road in Spicewood. Crews broke ground Oct. 12 on the first four o...
Canyon Ranch's new Hill Country wellness resort in Spicewood is scheduled to open for overnight guests on Oct. 22, Community Impact reports. The 600-acre property will have 141...
Community Impact's latest roundup lists 14 business changes across the Lake Travis-Westlake area, including several near the lake. In Spicewood, Infinite Hitting - Lake Travis i...
