More World Class entities file for Chapter 11 bankruptcy

Business

AUSTIN (Austin Business Journal) — At least three more entities connected to Nate Paul‘s World Class Holdings have filed for bankruptcy.

WC 4th and Colorado LP, which owns the building that houses the Capital Grille at 319 Colorado Street in downtown Austin, filed for Chapter 11 bankruptcy protection Aug. 4. The filing, in U.S. Bankruptcy Court for the Western District of Texas, indicated the limited partnership had assets of $10 million to $50 million and estimated liabilities of $1 million to $10 million.

Two more World Class limited partnerships filed for Chapter 11 bankruptcy protection on Aug. 5: WC 1st and Trinity LP and WC 3rd and Congress LP.

WC 1st and Trinity, which owns a lot at 99 Trinity St. just south of the Austin Convention Center, reported assets between $50 million and $100 million against liabilities between $1 million and $10 million. WC 3rd and Congress, which owns three downtown parcels surrounding The Austonian skyscraper, listed assets between $50 million and $100 million against liabilities between $10 million and $50 million.

Read the full story on Austin Business Journal.

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