Governor’s Fair Finance settlement yields just $3,000
Court papers show the Mitch for Governor Campaign Committee isn't paying more in a settlement with Fair Finance Co.’s bankruptcy trustee because it has just $3,500 left.
Bankruptcy
Articles
Fair trustee sues Durham’s mother for $831,000
The lawsuit alleges Mitza Durham of Seymour received 58 checks or wire transfers from the indicted financier from February 2006 through November 2009.
Home-foreclosure hiatus drives down bankruptcies
There were 22,754 cases filed in Southern District of Indiana in 2011, compared with 27,394 the prior year.
Latest Fair Finance suits target Durham associates
Defendants include companies affiliated with Indianapolis restaurateur Henri Najem, the rapper Ludracis and former Indianapolis Colts quarterback Blair Kiel.
East-side apartment complex target of $9M foreclosure
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
Failed dental chain lists no assets, $3.6 million debt
A New York dental chain that closed offices in 13 states, including eight in Indiana, without warning late last year lists no assets and liabilities of $3.6 million in a bankruptcy filing.
Brizzi agrees to pay Fair Finance nearly $200K
The Fair Finance trustee alleged that, in addition to being huge campaign contributors to former Marion County Prosecutor Carl Brizzi, Tim Durham and his companies helped cover Brizzi’s personal expenses.
Suburban-hotel mayhem whipsaws entrepreneur
Two of Sanjay Patel’s hotels landed in bankruptcy in November. Four others filed for Chapter 11 protection last year.
Bankruptcies decline in Indiana, nation
Indiana saw fewer bankruptcies for the fiscal year ending Sept. 30 than it did the year before, with the state improving its national ranking based on case filings.
Anderson racino emerges from bankruptcy
The parent company of Anderson racetrack and casino Hoosier Park has officially emerged from bankruptcy. The original shareholders of Centaur Inc., about 80 individual Indiana investors, lost their entire investment in the company.
Jeweler plans massive sale in bid to escape bankruptcy
Hofmeister Personal Jewelers Inc., which sought Chapter 11 reorganization in April, is asking the court to let it bring in a national consultant to oversee a huge sale that would begin next month and last until February.
Broadband provider Omnicity files for bankruptcy
The company, which had big plans to snap up rural broadband systems through the Midwest, has been in a financial slide for months.
Page Development CFO files for personal bankruptcy
Paul M. Pittman, one of four principals in a troubled Indianapolis-based condo developer, filed personal bankruptcy this week.
Suit says Irwin Union Bank execs missed snowballing risk
The bankruptcy trustee's suit against the top three officers of the bank's parent seeks more than $500 million.
Homebuilder Estridge files for bankruptcy
Paul Estridge Jr. owes a list of creditors including banks, suppliers and vendors more than $50 million, but has assets of less than $5 million, he said.
Former partner of Moe & Johnny’s owner alleges fraud
Real estate executive John Bales filed a lawsuit last month accusing Chuck Mack of “willfully and maliciously” misappropriating $200,000 that belonged to him.
Judge in Ponzi case deals blow to Hoosier developer
A federal bankruptcy judge in Florida has rejected a settlement that would have extricated former Indianapolis developer Sydney “Jack” Williams from tens of millions of dollars in claims for a mere $334,000.
New financing may give battered dry cleaner fresh start
US Dry Cleaning’s September 2008 purchase of Tuchman Cleaners was supposed to end years of financial strain for the 25-store Indianapolis chain, but it didn’t happen.
Precedent joins ranks of battered developers
The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
Prospects bright for Borders replacements
Brokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate, opting for locations near concentrations of affluent and educated consumers.