Articles

Trustee takes over Deca Financial Services

Fishers-based bill-collection firm Deca Financial Services LLC missed a March 17 deadline to come up with more than $11 million to avoid involuntary Chapter 11 reorganization sought by its creditors.

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Carmel councilors want final say on city’s debt

Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.

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Arcadia: Don’t buy our stock

Arcadia Resources Inc. is telling shareholders not to buy its stock because it is out of cash and faces a $40 million pile of debt that comes due on April 1.

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Firms put off paying, despite easing financial pressure

The trend toward small businesses’ delaying payments appears to have leveled off, but it’s still unclear how soon—or even whether—receivables will return to the 30 days that was standard for most businesses before the recession began in December 2007.

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Indiana Live owners miss interest payment

The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.

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Vogue owner’s bankruptcy may force sale of venue

A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.

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