Supplement company Irwin Naturals is facing bankruptcy after failing to repay a $40 million loan from East West Bank. The bank is pursuing legal action, alleging self-dealing and diversion of funds by the company’s CEO, Klee Irwin. Irwin Naturals is attempting to reorganize under Chapter 11, but the future remains uncertain for the company and its creditors.
An office park in Arlington, Texas, located near Six Flags and known as Six Flags Business Park, is facing foreclosure after its owner, Liberty Centerpoint LLC, allegedly defaulted on a $40 million loan from Pinnacle Bank. The park, which consists of four buildings totaling 450,000 square feet, was purchased by Liberty Centerpoint LLC in 2021 from Albany Road Real Estate Partners. The current appraised value of the park is estimated to be around $43 million. A foreclosure auction is scheduled for May 7, but a resolution between Pinnacle and Opal Holdings before that date may prevent a forced sale.
