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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