A federal magistrate on Wednesday ordered indicted financier Tim Durham held at a halfway house for seven days until he can provide a better accounting of his finances. The magistrate said “money means flight.”
Five companies are set to have their tax breaks terminated or continued as the city attempts to update the state of the benefits that date to the previous administration.
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
City grants approval Tuesday morning for the reuse of Meridian Street building that WFYI vacated in May 2008.
Advion, a provider of bioanalytical research and a subsidiary of Ithaca, N.Y.-based Advion BioSciences Inc., is expected to open the 22,000-square-foot lab in mid-May with 49 employees, according to the company’s application.
A capital campaign is under way to fund improvements to the historic arena on the campus of Butler University. Upgrades will include more seating for season-ticket holders and a new scoreboard with video capabilities.
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
Factories are adding jobs, but returning to pre-recession levels will be a long slog.
Lender Canyon Capital Advisors LLC agreed to extend the maturity date on $182.9 million in senior bank debt from November 2013 to November 2014, giving Emmis additional breathing room to operate.
The distributor of wireless phones agreed to drop its complaint, which accused a Massachusetts software provider of fraud and negligence in addition to breaching its agreement and warranty.
Golf club’s former operator defaulted on loan agreement, forcing city officials to make $222,724 in payments and search for another contractor to manage it.
Closure leaves locally owned independent record shop with one location, in Meridian Kessler, as the industry struggles to compete with digital downloading.
A bill signed by Gov. Mitch Daniels will create a type of auction among rural communities for young entrepreneurs graduating from some universities in the state.
Joan SerVaas issued a written statement saying she and her father signed off on a $1 million bond because they’re confident Tim Durham will continue to cooperate with federal authorities and abide by the conditions of his release.
The nursery on Michigan Road had planned to move to a smaller piece of land about four miles north, but hasn’t found a buyer. Kroger nixed a deal to buy its property last fall.
Meritex purchased 306,408-square-foot business park out of foreclosure from Wells Fargo Bank. The previous owner, Kobra Properties, had fallen into bankruptcy.
Defense attorneys representing indicted businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. could have a hard time convincing a jury to find them innocent. Federal prosecutors won 94.1 percent of their cases in 2009.
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they’re likely to recoup just a “teeny-tiny” fraction.
