Two New Bidders Surface For Bankrupt West Texas Resort
Save Email Print
Two New Bidders Surface For Bankrupt West Texas Resort
Two more potential bidders have surfaced for a bankrupt West Texas resort that owes millions.
width:200 and height: 150 and picwidth: 200 and pciheight: 150
Font Size:

(November 15, 2007)--Two new potential bidders for an isolated bankrupt resort in West Texas have emerged.

The offers of around $18 million each for the Lajitas Resort were disclosed in a federal bankruptcy court in San Antonio.

They top the current best offer of $13.5 million.

The resort near Big Bend National Park owes between $18 million and $20 million.

Only one of the creditors, Prime Asset Funding of Connecticut, is a secured creditor.

That means its lower offer would have kept any other creditor from recovering money owed.

A new hearing on the offers is set for Friday.

Austin communications mogul Stephen R. Smith bought the resort for $4.2 million in 2000.

He then pumped another $100 million into the property in a failed effort to create a desert destination for the rich.



Latest Comments

Posted by: Ring Location: Terlingua near Lajitas on Nov 18, 2007 at 08:40 PM

We have all withdrawn from the Demohipocratic Party, joined the revolutionaries to defend the constitution against the fascist incumbant federal administration whom Lajitas supported. God bless Terlingua and our Nation. Keep your powder dry.
[ Report Abuse ]
Video
KWTX.com Features
Double Dollar Deals
Half Price Deals at Central Texas restaurants and businesses. A new deal every Thursday at 7:00am.
Boss of the Month
Who is Central Texas’ best boss? Nominate your supervisor for Boss of the Month!
Golden Apple
Your chance to nominate an outstanding teacher. Find out how they are making a difference in classrooms.
Emily Wants to Know
Emily Matthews' inquisitive look at life in Central Texas.
Army Way
Learn all about the symbols, traditions, and customs of the US Army.
Job of the Week
Click now to see hundreds of other jobs on Job Board TV!


Automotive Sales Professional - Looking for a new, exciting career in automotive sales? Join John McClaren Chevrolet in McGregor and work for the #1 Chevy Truck Dealer in all of Central Texas.

Also, take a look at the most recent jobs posted to Job Board TV at KWTX.com:
View More Jobs.
AP Video