"A bankruptcy judge on Monday said a golf course at Lake Las Vegas that cost $30 million to build a few years ago has become similar to a 'toxic dump' that nobody wants."

Thanks to reader Jim for this John G. Edwards story in the Las Vegas Review-Journal about the demise of Lake Las Vegas' "The Falls" course, a Tom Weiskopf design.

Bankruptcy Judge Linda Riegle took one step toward letting a lender take possession of the Falls, but she didn't make her final ruling.

The judge authorized Texas-based Carmel Land & Cattle Co., which holds a $15 million loan secured by the golf course, to foreclose on it Jan. 30. She delayed action on a request by Lake Las Vegas to abandon the property because she was concerned that the property includes half of a water pumping station needed at the resort community.

Riegle said she will consider whether to grant permission for Lake Las Vegas to abandon the golf course at a Jan. 15 hearing.

Foreclosure of the golf course could cost Ron Boeddeker, the previous owner of Lake Las Vegas, several million dollars because he signed a personal guaranty on the $15 million loan.

The golf course is worth less than half the $15 million owed on the loan, said Frederick Chin, president of Lake Las Vegas Joint Venture and affiliated companies.

David Stern, an attorney for Lake Las Vegas, said the golf course meets two key requirements for abandonment: It's of inconsequential value to the bankrupt companies, and keeping the course creates a financial burden on the debtors.

Other than that, they just love it.

Here's the course's website and links to tee time booking if you were hoping to tee it up before it disappears.