Saturday's art auction of work collected by Fair Finance co-owner Timothy Durham raised more than $400,000 — well above what the Akron company's bankruptcy trustee and even the auctioneer thought would be brought in.
The eclectic art collection of disgraced financier Tim Durham will hit the auction block Saturday in a sale that could help restore a small portion of the money lost by investors in Ohio's Fair Finance.
The developer of an unfinished medical office complex on Binford Boulevard has filed for Chapter 11 bankruptcy protection in hopes it can retain control of the property and resume construction later this year.
Indianapolis-based ESI Environmental Inc. filed for Chapter 7 liquidation in U.S. Bankruptcy Court. The firm was the area's second-largest environmental contractor based on revenue, according to the most recent IBJ statistics.
Troubled video-rental chain Blockbuster Inc. filed for Chapter 11 bankruptcy protection Thursday, saying plans to keep its stores and kiosks open as it reorganizes.
A former Indianapolis developer accused of luring more than a dozen Hoosiers into a $900 million Ponzi scheme invoked the Fifth Amendment more than 850 times when questioned under oath in Florida.
The deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more manageable debt load.
Centaur plans to sell a casino west of Denver and a stalled casino development near Pittsburgh.
A sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
Tim Durham, Fair’s co-owner and CEO, burned through staggering sums on a lavish lifestyle, loans and gifts to friends,
and loans to businesses he partly owned that performed dismally.
State Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy
Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy
earlier this year.
Trustee Brian Bash has sent letters to politicians who he says received a total of $900,000 in funds Durham had borrowed
from the coffers of Fair Finance, a now-bankrupt investment firm based in Ohio.
The bankruptcy trustee said Durham spent $2.8 million on gambling and resorts, $3.3 million on interior decorating and $14
million on real estate.
Lauth Group Inc. will relocate its headquarters to a North Meridian Street office building as part of a bankruptcy court settlement,
the company announced Thursday afternoon.
The founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a
$900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions
of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
An agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis
and Los Angeles.
Beleaguered home builder doesn’t appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
Embattled financier Tim Durham’s lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles.
An attorney for
the trustee said investigators were aware.
Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
June 24.
Beleaguered financier Tim Durham acknowledges owing millions to Fair Finance and is turning over artwork and selling assets
to reduce the loan, according
to an attorney overseeing the company’s bankruptcy.
