A federal agency has stepped in to pay almost all of a $36 million shortfall in pension benefits for current and future retirees of Vertellus Specialties Inc., an Indianapolis-based manufacturer that is working its way through a Chapter 11 bankruptcy.
The Carmel-based, for-profit educator began liquidation proceedings Friday after closing 136 technical schools, leaving over 35,000 students stranded in one of the largest college shutdowns in U.S. history.
An appeals court ruling has cleared the way for Fair Finance Co.'s bankruptcy trustee to revive a lawsuit against one of the company's lenders,a Fortune 500 company with extensive resources. The trustee was able to extract a $35 million settlement from another one of the company's lenders.
Golfsmith, which has 109 stores in the U.S. and 55 in Canada, filed for Chapter 11 bankruptcy on Wednesday. The retailer has one store in Indianapolis.
Indianapolis-based Republic Airways Holdings Inc. has reached an agreement to continue providing regional flights for American Airlines—a step Republic says “clears the pathway for a successful emergence” from its Chapter 11 bankruptcy case.
Chemical company Vertellus Specialties Inc. says the $454 million deal arranged in bankruptcy proceedings will allow it to continue operations with its current leaders.
The operator and franchiser of more than 250 roadhouse-themed restaurants, including four in the Indianapolis area, said it plans to close 18 under-performing restaurants as part of the reorganization plan.
If a bankruptcy judge approves the incentive plan, six senior executives of the commuter carrier would split as much as $4.7 million in bonuses over the next three quarters.
The agreement is the second with a major air carrier that could help the Indy-based company emerge from bankruptcy.
A court-appointed patient care ombudsman who looked into Nightingale Home Healthcare’s operations says he found more than 1,300 complaints from patients and family members since 2011.
Bankruptcy examiner John Humphrey, who has been investigating potential claims against HDG Mansur founder Harold Garrison, is hoping for a big payout from the company's $5 million directors and officers liability insurance policy.
A bankruptcy judge in New York has approved a settlement that allows the Indianapolis-based airline contractor to set more favorable terms with Delta Air Lines, one of its biggest customers.
The FDIC has settled a lawsuit against four former executives of the bank. Meanwhile, in a separate suit a bankruptcy trustee continues to press his claims against three other executives.
Peabody Energy Corp., which filed for bankruptcy on Wednesday, has at least six mines in Indiana that employ more than 1,250 workers, including Bear Run Mine in Sullivan County, the largest surface mine in the eastern United States.
Retailer Pacific Sunwear of California Inc., which operates 11 stores in Indiana, filed for bankruptcy protection Thursday after what it called years of management blunders.
Indianapolis-based Republic Airways Holdings Inc.’s unsecured creditors are likely to recover less than 50 cents on the dollar in the airline’s bankruptcy, and stockholders should expect nothing at all, according to a letter from the company.
Republic says the professional-services firms it has tapped should be paid well because they're helping the Indianapolis company work through a "unique set of circumstances" that has never been faced in an airline bankruptcy.
Republic Airways Holdings Inc. won permission to use the bankruptcy process to return what it says are some of its less attractive airplanes and engines.
The south-side restaurant on U.S. 31 is among 90 eateries under parent Ovation Brands Inc.’s umbrella that have been closed nationwide.
Indianapolis-based Republic reached a watershed contract agreement with pilots last October, but it wasn’t enough to allow the carrier to regain its financial footing. Republic shares plummeted on news of the bankruptcy filing.
