Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
A federal trustee will take control of the company’s assets while securities-fraud probes continue.
Locally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
Accuride shareholders are trying to arrange a $400 million loan to fund the Evansville company’s exit from bankruptcy.
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case
suggested Lauth insiders may have backdated documents to thwart creditors.
Two more local homebuilders fell victim in 2009 to the prolonged meltdown of the housing market. Carmel-based
C.P. Morgan Communities LP closed in February, and Indianapolis-based Hansen & Horn Group Inc. is teetering on the edge
of bankruptcy.
Las Vegas-based Citadel Broadcasting, which owns three radio stations in Indiana, filed for Chapter 11 bankruptcy protection
on Sunday in an effort to restructure its hefty debt load.
The Indiana Troopers Association has filed for bankruptcy protection as the fraternal organization is in a court fight with
telemarketing companies it hired for fund-raising work.
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
Venu site
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
An old-line Indianapolis jewelry business has shut down, setting the stage for the sale of millions of dollars in remaining
inventory through auctions planned in Indianapolis, Chicago, Miami and Naples, Fla.
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining
assets of the troubled banking company.
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals
to retain control of three subsidiaries in Chapter 11 bankruptcy.
Officials in Kokomo and Howard County are in a tough spot. The “new” Chrysler created after its bankruptcy
sale to Fiat contends it‘s no longer on the hook for $12.9 million it owes various local taxing bodies this year and
$12.3 million it will owe next year.
Since key Lauth Group subsidiaries landed in bankruptcy in May, the company has described its misfortune almost as if it
were an act of God.
Evansville-based truck parts maker Accuride Corp., one of the state’s largest companies, warned
today in its quarterly financial report that the company might seek bankruptcy protection if lenders refuse to restructure
its debt.
Developer Lauth Group Inc. is sparing no expense on attorneys in the Chapter 11 reorganization of key subsidiaries. The company has hired two of the nation’s most prominent bankruptcy and restructuring specialists to handle the cases, and the bill for the first month easily will exceed $1 million.
The largest outside investor in embattled developer Lauth Group Inc. is asking a federal judge to dismiss the company’s bankruptcy
cases.
A lot of people owe money these days, and some of the agencies hired to pursue them are resorting to old- school tactics to
collect. Things like calling at all hours, threatening to have debtors jailed or fired, or employing abusive language.
A judge has given Lauth Group Inc. a reprieve from an equity investor that is seeking to take control of most of the developer’s
properties.
