Developer Alig to plead guilty to 2 felonies, pay restitution
Cornelius “Lee” Alig has agreed to plead guilty to two of 20 felony counts and pay restitution of $321,000.
Mansur Real Estate Services
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Examiner appointed in HDG Mansur bankruptcy case
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur. A judge, for the time being, denied a request to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7.
Liquidation not needed, developer HDG Mansur tells court
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.
HDG Mansur affiliates file Chapter 11 to halt $5.8M judgment
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.
HDG Mansur affiliate losing ownership of Market Tower
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
Feds probe whether HDG Mansur took millions from client
HDG Mansur has divulged in court documents that it’s the target of a federal criminal probe for allegedly skimming millions of dollars from a client.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Banks still cautious on commercial real estate
Singed by the downturn, banks are winnowing real estate portfolios.
Speedway breaks ground on redevelopment project
Speedway officials broke ground Thursday morning on the first phase of a $500 million redevelopment project they hope will transform the small town into a year-round racing-themed destination.
Airport hotel in limbo
The recession, coupled with personnel shifts, have grounded the more than $50-million hotel project adjacent to the new terminal.