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Bankruptcy
Ruling keeps church ensnared in life insurance nightmare
May 11, 2013
Greg AndrewsA federal bankruptcy judge has slapped down an Anderson church that attempted to blame its bank for a failed scheme to finance
church upgrades by buying life insurance policies on its elderly members.
MoreFair Finance investors still empty-handed as trustee plows on
April 27, 2013
Greg AndrewsMany of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal
to fight litigation for years.
MoreBank of Indiana parent files Chapter 11, to sell branches
April 10, 2013
Chris O'MalleyThe bankruptcy of Bank of Indiana's parent and the planned sale of its branches bring to a close management's quest
to turn around an institution that was buffeted by borrower defaults during the financial crisis.
MoreCentre Properties puts 3 strip centers into Chapter 11
March 19, 2013
Scott OlsonThe Indianapolis developer said the bankruptcy filings are intended to prevent lender Bank of America from forcing the sale
of RiverPlace Shops in Fishers, Raceway Market Shops in Indianapolis and Greenwood Crossing in Greenwood.
MoreTangle with Huntington Bank could fell ‘Peanut King’
March 2, 2013
Greg AndrewsThe company, which roasts nuts and sells concession equipment, filed for bankruptcy to stave off Huntington National Bank,
which had filed to foreclose on its real estate.
MoreBankruptcy stops condos' auction
February 18, 2013
Dan HumanAn Indianapolis developer’s last-minute bankruptcy filing halted the auction of a struggling downtown condominium project.
MoreJudge OKs sale of Indiana's oldest ethanol plant
February 6, 2013
Associated PressA joint venture bought the New Energy Corp. plant at auction last week for $2.5 million. New Energy had hoped the auction
would cover the company's $54 million in debt. A large portion of that debt is owed to the U.S. Department of Energy, which
guaranteed the original loans.
MoreSimon unit suing Stir Crazy chain for unpaid rent
February 1, 2013
Scott OlsonThe owner of Castleton Square Mall is suing its former tenant for $471,031 following the restaurant's closing late last month.
MoreReal estate developers' exhilaration turns to pain in bankruptcy
January 26, 2013
Greg AndrewsMany Indianapolis developers know the feeling. In good times, few industries generate an adrenalin rush like real estate development.
But it’s a highly leveraged business built upon certain assumptions that proved flimsy when the financial crisis hit.
MoreDeveloper loses fraud appeal
December 28, 2012
Scott OlsonThe Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as
he tried to save his real estate development firm.
MoreSlinky maker’s owner buys bankrupt Fundex for $1.7M
December 20, 2012
Scott OlsonPrivate equity firm Propel Equity Partners is acquiring Fundex following a court-ordered auction in which a surprise bidder
surfaced, driving up the price of the company.
MoreSlinky maker hoping to purchase bankrupt Fundex
December 4, 2012
Scott OlsonPlainfield-based Fundex Games Ltd., which filed for bankruptcy protection in September, said Poof-Slinky Inc. is the only
potential purchaser that has shown interest in acquiring the company's assets.
MoreDurham fate rests in judge's hands
November 29, 2012
Cory SchoutenConvicted Ponzi schemer Tim Durham and two accomplices will find out Friday whether they will spend the rest of their lives
in prison.
MoreLocal designer’s bankruptcy tied to Fair Finance
November 28, 2012
Scott OlsonSC Design Inc. lists debt of $1.5 million. Most of it is owed to Fair Finance, formerly co-owned by convicted fraudster Tim
Durham, through a claim filed by a trustee seeking to recover investor funds.
MoreTwinkies likely to survive sale of Hostess
November 19, 2012
Associated PressOther companies are interested in bidding for at least pieces of Hostess because of the high brand recognition and $2.5 billion
in annual revenue. Twinkies alone have brought in $68 million in revenue so far this year.
MoreBattered Broadbent climbs back from brink
November 10, 2012
Cory SchoutenOne of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and
protracted legal battle with two lenders.
MoreLocal lawyer appointed federal bankruptcy judge
October 31, 2012
James M. Carr of the Indianapolis law firm Faegre Baker Daniels LLP has been appointed to a 14-year term effective Jan. 1.
His selection follows the recent appointment of Marion Superior Court Judge Robyn Moberly.
MoreJudge tosses out lawsuit blasting Irwin executives
October 6, 2012
Greg AndrewsA judge dismissed a lawsuit filed by Irwin Financial Corp.'s bankruptcy trustee, saying the only party with the right
to bring suit was the bank’s receiver, the Federal Deposit Insurance Corp. It didn't do so by last month's deadline.
MoreChrysler drives off with $2.5M refund from Duke Energy
October 5, 2012
Chris O'MalleyThe automaker had claimed in a complaint to the state that Duke acted in "draconian" fashion by holding onto the
seven-figure deposit for service at its Kokomo plant since 2009.
MoreHostess to cut wages for Indiana bakers in labor deal
October 4, 2012
IBJ StaffHostess Brands Inc., the maker of Twinkies and Wonderbread, has received the go-ahead from a U.S. bankruptcy court judge to
lower wages for thousands of bakery workers, affecting more than 400 employees in Indiana.
MoreSale of signature game Phase 10 sent Fundex into ditch
September 29, 2012
Greg AndrewsThe nightmare that culminated with the Plainfield-based company’s recent Chapter 11 bankruptcy filing began in the depths
of the financial crisis, when the company’s lender yanked its more-than-$10-million line of credit.
MoreIndiana Grand Casino owners accept bid from Centaur
September 18, 2012
Kathleen McLaughlin, Associated PressCentral Indiana’s two racetrack-casinos may consolidate under a single owner after Indianapolis-based Centaur Holdings
LLC submitted a winning bid of at least $500 million for Indiana Grand Casino in Shelbyville.
MoreGame maker Fundex files for bankruptcy reorganization
September 11, 2012
Scott OlsonThe once high-flying Fundex is seeking to reorganize under the protection of bankruptcy as the lawsuits against the Plainfield-based
company continue to pile up. Fundex lists assets of nearly $1.5 million and liabilities of $8.9 million.
MoreSolar panel maker Abound to auction off assets
September 10, 2012
IBJ Staff and Bloomberg NewsAbound Solar Inc., the bankrupt solar-panel maker that had hoped to hire up to 1,200 people in Indiana by the end of next
year, will have its assets sold at auctions this month and in October.
MoreFaction turns on trustee in Eastern Livestock bankruptcy
August 25, 2012
Greg AndrewsThings have suddenly taken an ugly turn for veteran Indianapolis attorney Jim Knauer and his legal advisers at Faegre Baker
Daniels, who are under attack by parties that want them bounced from the massive bankruptcy case for Eastern Livestock Inc.
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Good ole' Obamacare. Thanks liberals and those who didn't bother to vote.
Yes. Blame those who were too lazy to go vote Obama out and those who voted him in again. That's my take on it. I know folks won't get it on the left. OK. Start berating me now!
Serioulsy, people are AGINST this project? Most communities would be salivating over a project like this. You'd rather have an empty eye-sore gas station and shacks posing as apartments? This project is exactly what BR needs. BUILD IT MR MAYOR. And yes, I am a BR resident, and have been for 20 years.
As a St. Vincent employee of over 20 years, I am saddened and disheartened by this announcement. Unfortunately, as the healthcare "industry" continues on this political and corporate path, all that St. Vincent Hospital has stood for spiritually for its employees and this community is being sucked dry. I know it truly has no choice. It is not just Obamacare or just competition or just any single thing. This trend started long before I was even born when the government became involved in healthcare and it became an "industry." I grieve for those who will lose their jobs, one of whom may be me, but I also grieve for this hospital which I have served for over 20 years. May God give us and it the grace to withstand the future of healthcare.
Why do people constantly harp on this issue and act ignorant about what a city population measures? A city's population is the city's population. There is no argument or debate about it. If you want to measure the density of a city--measure it. If you want to measure the size of a metropolitan area, then measure the metropolitan population. City boundaries cover different sized areas--and they always have (though the disparity has probably increased since about 1900 or so when more cities began annexing their surrounding communities). For example, San Francisco only covers 49 square miles while Houston cover nearly 600 square miles. No one argues about the population rankings of either city even though they clearly cover extremely different sized areas. Indianapolis is the 13 largest city by population in the U.S. That is a fact. While the population of a metropolitan area may give you a better sense of how large a community is, as noted, even metro areas can vary widely in the size of geographic area they cover--so that is not a perfect comparison either.