WC Braker trustee gets approval to continue using cash collateral

By Sarah Lizee

Olympia, Wash., Feb. 7 – WC Braker Portfolio, LLC’s Chapter 11 trustee received approval to continue using cash collateral through Feb. 28, according to a stipulated agreement filed Monday with the U.S. Bankruptcy Court for the Western District of Texas.

Lender ATX Braker SR, LLC agreed to the cash collateral use.

As previously reported, the lender is acting as stalking horse bidder for the Braker Portfolio properties. The proposed purchase price is a $75.46 million credit bid of the mortgage loan.

An auction is scheduled for Feb. 14.

The debtor is a borrowing entity of World Class Property Co., a real estate investment company based in Austin, Tex. WC Braker filed bankruptcy on May 2, 2022 under Chapter 11 case number 22-10293.

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