Articles

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.

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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.

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Jillian’s set to vacate ground floor of downtown building

An unidentified restaurant and bar is set to sign a lease by Sept. 1 to assume the Meridian Street space Jillian’s has agreed to relinquish as part of a lease dispute with its landlord. The entertainment complex will continue to operate on the second and third floors.

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Now vacated Borders location on Meridian and Washington streets

Judge approves Borders auction, liquidators open bid

Borders Group, the nation's second-largest bookstore chain that once operated over 1,000 stores, appears headed for liquidation after a judge on Thursday approved its motion to auction itself off with an offer from a team of liquidators as its opening bid.

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Greenwood golf course reorganizing under bankruptcy

Renamed Dye’s Walk Country Club in 2007, the private golf course’s original nine holes were the first designed by legendary course architect Pete Dye. The Greenwood course has fallen on financial hard times and is hoping to emerge under new ownership.

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Shrunken Lauth emerges from reorganization

Lauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11 bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.

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Indiana Downs owner halts lawsuit amid bankruptcy

Cordish Cos., a real-estate developer trying to build a casino near Baltimore, must temporarily halt a defamation lawsuit against the chief executive officer of Shelbyville casino owner Indianapolis Downs LLC, a federal judge said Tuesday.

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Bosma to return $10,000 Durham donation

Fair Finance's trustee says Bosma has agreed to return a $10,000 contribution from Durham. Meanwhile, Carl Brizzi, another big recipient of Durham donations, is in settlement discussions with the trustee.

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Local developer seeks bankruptcy protection

Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.

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Portrait Homes parent files for bankruptcy

Chicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait Homes Indiana, which built hundreds of homes in the Indianapolis area.

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Residential developer declares bankruptcy

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.

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