Amid allegations of possible crimes in Texas Attorney General Ken Paxton’s office relating to beleaguered Austin investor Nate Paul, four more real estate entities controlled by Paul and his company, World Class Property, have filed for bankruptcy.
The Chapter 11 bankruptcies this week bring the total filings by Paul-controlled entities to 22 since last November, although two cases were dismissed last month by a bankruptcy judge because Paul lacked standing to file them.
Paul remains under federal investigation after his home and offices were searched by federal agents in August 2019.
One of Austin’s largest commercial landlords, Paul has for the past year customarily filed bankruptcies at the 11th hour to keep lenders from foreclosing on his various properties. His holdings include numerous high-profile downtown properties, as well as the 156-acre campus in far Northwest Austin that 3M formerly occupied.
The latest bankruptcy filings come as Paul emerges front and