Beleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. have been indicted on felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud. The Securities and Exchange Commission also filed a complaint against the men in federal court.
Two racetrack owners have signaled they’re interested in buying Indiana Live racetrack and casino in Shelbyville as the facility begins to sort out its massive debt.
Total bankruptcy filings in the Southern District of Indiana, which encompasses Indianapolis and the surrounding counties, ticked down last year. Business bankruptcies in Indiana dropped 3.2 percent.
Fair Finance Co.’s bankruptcy trustee is getting inquiries from parties interested in buying National Lampoon Inc., the Los Angeles-based comedy business led by embattled Indianapolis businessman Tim Durham.
Hoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million and exit bankruptcy.
Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center’s lender.
E-mails filed in bankruptcy court this week show that Fair Finance Co. co-owner Jim Cochran spent money with such abandon that by 2008 he was living off credit cards and imploring CEO Tim Durham to more than double his salary to $1 million.
Borders will close its downtown-Indianapolis and Carmel stores as part of its plan to shutter about 30 percent of its stores nationally.
Fair Finance Co.’s bankruptcy trustee alleges Tim Durham perpetrated a fraud of "shocking proportions,” draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed.
The loan from Fair Finance Co. to Stephen and Linda Plopper matured in 2006, but the couple has failed to satisfy the debt despite recent demands for payment, the suit alleges.
Trustee Brian Bash and his legal team have yet to publicly implicate anyone who appears to have the cash to substantially reduce the staggering losses.
A 1929 Duesenberg once driven by Elvis Presley garnered the largest price—$1.237 million.
Fair Finance Co.’s bankruptcy trustee scheduled the Friday auction to raise money for creditors of the defunct company, including more than 5,000 Ohio residents who hold more than $200 million in unsecured investment certificates.
ATA charged in the two-year-old breach-of-contract suit that FedEx’s unexpected decision in January 2008 to drop it as a military-charter partner forced it into bankruptcy liquidation that spring.
Hoosier Park Racing & Casino’s parent company could emerge from bankruptcy early next year if creditors approve a reorganization plan that’s set for a court hearing in Delaware on Feb. 1.
A Florida art dealer who successfully bid more than $260,000 on artwork that once belonged to Fair Finance Co. co-owner Timothy Durham says he canceled the sale. Now he and another big bidder from Philadelphia are being sued by Fair Finance bankruptcy trustee Brian Bash for nonpayment.
Owner Chuck Mack says popular tavern and restaurant Moe & Johnny’s, open in Broad Ripple since 1996, is in no danger of closing despite the Chapter 11 filing.
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
General Growth Properties Inc. said Thursday a bankruptcy judge has approved its reorganization plan, clearing the way for the Simon Property Group rival to emerge from Chapter 11 bankruptcy protection early next month.
Sydney "Jack" Williams earned commissions by persuading dozens of investors, many with Indiana ties, to lend millions of dollars to a business that turned out to be fake.
