A federal judge will determine whether an Anderson church can exit bankruptcy with a lighter debt load, over objections from its bank lender, after a church scheme to profit by selling life insurance on its elderly members failed.
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
A new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is also likely to raise many questions.
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.
House Republicans want more information about a $400 million loan guarantee from the U.S. Energy Department to Abound Solar Inc., citing reports that significant “technological difficulties” with the company’s solar panels were known before the aid was approved.
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.
More than 37,000 Indiana borrowers who lost homes to foreclosure soon will receive claim forms for payments under the national mortgage settlement.
Oscar Robertson’s money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he’s trying to convince a judge that he’s not responsible for a $203,000 bank loan.
Carmel-based insurer CNO Financial Group Inc. said Tuesday that it is seeking $950 million of loans and bonds to repay debt and reduce borrowing costs.
Allison Transmission Inc., the locally based maker of transmissions for trucks, buses and the military, set the interest rate it will pay on a $500 million term loan the company is seeking to refinance debt.
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
Carl C. Dalstrom says he will leave the student-loan guarantor on June 30, 2013. He has led the locally based not-for-profit since July 2000.
The jobs are part of a $5 million expansion in which the company will add 20,200 square feet of space to its offices in Muncie. When finished next summer, the 75,000-square-foot facility will house 900 employees.
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
Six of the 17 Indiana banks that relied on the federal government to shore up their balance sheets in the recession have yet to repay, and the U.S. Treasury isn’t going to wait forever.
