(Austin Business Journal) — Austin businessman Nate Paul is once again in hot financial waters after an entity owned by his World Class Holdings firm, which counts a Lake Travis marina among its assets, filed for bankruptcy.
WC Paradise Cove Marina LP filed a voluntary petition for Chapter 11 bankruptcy protection on Oct. 7. The entity, which apparently intends to stay operational but reorganize its debt, owns the land beneath Paradise Cove Marina on Lake Travis at 17141 Rocky Ridge Road, according to the Travis Central Appraisal District.
Managers of the marina couldn’t immediately be reached for comment, and it’s possible the marina is not experiencing financial trouble itself.
Read the full story in the Austin Business Journal.
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