Monday, February 11, 2019

Cowboys Dancehall Names Potential Buyer and May Skip Foreclosure

Posted By on Mon, Feb 11, 2019 at 10:06 AM

Revelers dance inside Cowboys Dancehall. - INSTAGRAM / COWBOYSDANCEHALLSA
  • Instagram / cowboysdancehallsa
  • Revelers dance inside Cowboys Dancehall.
The bankrupt owner of Cowboys Dancehall has named a possible buyer for the San Antonio two-step palace.

Arlington-based Cowboys Far West filed papers asking a San Antonio bankruptcy judge to green light a sale of the property to Austin-based Heiser Development Corp. for $9.75 million, according to a report on MySA.com.

While that offer is less than the $12 million, Cowboys Far West originally sought, time may be forcing a fire sale, according to the report. Oklahoma-based Crossroads 2004, the partnership's lead lender, can foreclose on the club on April 2 if it hasn’t yet sold.

U.S Bankruptcy Judge Ronald King will hold a hearing Thursday to consider the sale request.



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