Advertisement

Texas News

News > News > Texas News > Bank Takes Ownership of Schlitterbahn Riverpark

Bank Takes Ownership of Schlitterbahn Riverpark

A bank that held roughly $32 million in debt by the Schlitterbahn Riverpark & Resort in Texas' North Padre Island has taken ownership of the park at a foreclosure auction.

San Antonio lawyer Jon Lowe, who conducted the auction, told the San Antonio Express-News that IBC Bank made a $20 million "credit bid" as the lone bidder for the park. IBC CEO Dennis Nixon says the Laredo, Texas-based bank hopes to find a new owner quickly.

The sale comes a year after a bankruptcy filing by the park's owners, Schlitterbahn principals Gary and Jeffrey Henry and North Padre Island landowner Paul Schexnaider.

A grand jury indicted Jeffrey Henry in March on second-degree murder and other charges in the 2016 death of a 10-year-old boy on a slide at Schlitterbahn's Kansas City, Kansas, water park.

Texas Senators Cornyn and Cruz are taking their immigration policy debate down to the source on Friday. The two...
(Photo: KXAN) Kyle police say they've caught the man they were looking for who was behind the wheel of a car that...
(Photo: Spectrum News) A San Marcos man is behind bars after New Braunfels Police say they caught up with the so...
(Photo: Mayor Adler's Twitter) Mayor Steve Adler, standing shoulder to shoulder with mayors across America, says...
(Photo: San Antonio Current) Reaction is mixed to the latest plan to 'Reimagine the Alamo.' The first proposal,...