World Class foreclosure sales canceled after Paxton legal opinion



a man wearing glasses and looking at the camera: Nate Paul is the founder of World Class Holdings, which has grown quickly since its creation in 2007 but more recently has been entangled in legal battles. [CONTRIBUTED PHOTO]


© Provided by Austin American-Statesman
Nate Paul is the founder of World Class Holdings, which has grown quickly since its creation in 2007 but more recently has been entangled in legal battles. [CONTRIBUTED PHOTO]

Austin real estate investor Nate Paul faced foreclosure on properties in Austin, Plano and San Antonio this summer from lenders seeking to collect a combined $20.5 million in delinquent debt.

But foreclosure sales of the properties scheduled for Aug. 4 didn’t take place after a rushed written legal opinion — ordered by Texas Attorney General Ken Paxton under unusual circumstances and dated Aug. 1 — rendered such sales more difficult to hold.

The American-Statesman first reported Thursday on Paxton’s Aug. 1 opinion and a scheduled Aug. 4 foreclosure sale of a Paul-controlled real estate entity based in Austin that subsequently was called off.

Paxton’s opinion came at a time potentially more opportune for Paul and his

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World Class foreclosure sales canceled after Paxton legal opinion – News – Austin American-Statesman

Austin real estate investor Nate Paul faced foreclosure on properties in Austin, Plano and San Antonio this summer from lenders seeking to collect a combined $20.5 million in delinquent debt.

But foreclosure sales of the properties scheduled for Aug. 4 didn’t take place after a rushed written legal opinion — ordered by Texas Attorney General Ken Paxton under unusual circumstances and dated Aug. 1 — rendered such sales more difficult to hold.

The American-Statesman first reported Thursday on Paxton’s Aug. 1 opinion and a scheduled Aug. 4 foreclosure sale of a Paul-controlled real estate entity based in Austin that subsequently was called off.

Paxton’s opinion came at a time potentially more opportune for Paul and his company, World Class Property Co., than previously known, however.

A second Paul-controlled real estate entity based in Austin was slated for an Aug. 4 foreclosure sale, according to court documents, as were an entity

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Foreclosure sale, private auction canceled at Palm Beach Biltmore


Foreclosure sale, private auction canceled for Unit 712-E at Palm Beach Biltmore; condo instead listed at $2.5 million.

Darrell Hofheinz
 
| Palm Beach Daily News

At the lender’s request, a courthouse foreclosure auction that had been scheduled for Oct. 13 for a well-appointed condominium at the Palm Beach Biltmore has been canceled.

And that action also spurred the owners to cancel a private “pre-foreclosure” auction of Unit 712-E, scheduled for last Friday with a minimum bid of $2.5 million, as previously reported by the Daily News.

Circuit court Judge Scott Kerner on Sept. 18 granted lender E*Trade’s request to cancel the courthouse auction of the seventh-floor apartment, which is owned by Kenneth B. and Lynnea J. Elkind. 

The courthouse auction, however, could be rescheduled after the New Year, court documents show. But the cancellation has bought the Elkinds some time to sell their condo privately and pay off their debts,

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