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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Austin’s Nate Paul, tied to Paxton complaint, known for real estate empire, legal entanglements – Business – Austin American-Statesman

Austin businessman Nate Paul and his company, World Class Property, have generated headlines for years, first for a meteoric rise in the real estate industry but more recently for a spate of bankruptcies, legal skirmishes and a search of Paul’s downtown headquarters by federal agents in August 2019.

Paul, who is still in his early 30s, has amassed a portfolio of high-profile holdings in the Austin area and elsewhere since founding World Class in 2007, growing the company into one of the nation’s largest privately owned real estate firms.

Now, Paul’s alleged relationship with Texas Attorney General Ken Paxton has sparked a major legal and political whirlwind in the top echelons of Texas government. Seven senior Paxton aides have filed a criminal complaint against the attorney general that they say stems from his dealings with Paul. They asked federal agents to investigate their boss for potential crimes that include bribery

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