The North Padre Island Schlitterbahn Riverpark & Resort has changed ownership in a recent foreclosure auction that saw IBC Bank take responsibility for the park, which was $32 million in debt. In an interview with the San Antonio Express-News, reported on by KWTX, it was stated by Jon Lowe, the San Antonio lawyer who conducted the auction, that the bank made a “credit bid” for $20 million as the sole bidder for the failing Schlitterbahn park.
A recent comment made by IBC CEO Dennis Nixon is that the bank, which is based in Laredo, has interest in finding a new owner for the park fairly quickly. Coming just one year after the Schlitterbahn Riverpark & Resort filed bankruptcy, the auction officially relieves its principals (Gary Henry and Jeffrey Henry, and Paul Schexnailder) of the park’s ownership. In March, a grand jury indicted Jeffrey Henry on charges of second-degree murder connected with the death of a 10-year-old boy on a slide at the Schlitterbahn Kansas City water park in 2016.