Chapman properties not sold in foreclosure auction - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Chapman properties not sold in foreclosure auction

AMARILLO - Thousands of acres of property owned by prominent Amarillo developer, George R. Chapman, were not sold at auction as expected Tuesday.
 
The three lenders who called for the foreclosures of the properties did not show up on the Potter County Courthouse steps Tuesday. It's likely that Chapman reached a deal with lenders on payment plans for the debts.
 
According to foreclosure listings at the Potter County Clerk's office, Chapman's companies have close to $6 million worth of delinquent loans with Herring National Bank, including The Country Barn Steakhouse, and a stretch of undeveloped lots in the Woodlands Residential Subdivision in Amarillo.
 
Two other lenders, Great Plains Ag Credit and Capital Farm Credit, also list dozens of tracts of land in Potter, Wheeler and Gray counties with unpaid debt, though the amounts were not listed in clerk documents.
 
The Country Barn Steakhouse remains closed after closing its doors to customers Saturday night.
 
Chapman and all three lenders did not return NewsChannel 10's calls Tuesday.
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