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Bankruptcy
Prospects bright for Borders replacements
July 26, 2011
Cory SchoutenBrokers expect strong demand from other retailers, in part because the failed bookstore chain carefully chose its real estate,
opting for locations near concentrations of affluent and educated consumers.
MoreJillian’s set to vacate ground floor of downtown building
July 15, 2011
Scott OlsonAn unidentified restaurant and bar is set to sign a lease by Sept. 1 to assume the Meridian Street space Jillian's has agreed
to relinquish as part of a lease dispute with its landlord. The entertainment complex will continue to operate on the second
and third floors.
MoreGreenwood golf course reorganizing under bankruptcy
June 17, 2011
Scott OlsonRenamed Dye's Walk Country Club in 2007, the private golf course's original nine holes were the first designed by legendary
course architect Pete Dye. The Greenwood course has fallen on financial hard times and is hoping to emerge under new ownership.
MoreArizona project bankrupts local developer Bodner
June 11, 2011
Cory SchoutenBruce Bodner, a quiet but prolific local developer who in the late 1990s bought and revitalized two of downtown’s most
recognizable buildings, has filed for bankruptcy after making a doomed bet in Arizona.
MoreShrunken Lauth emerges from reorganization
May 31, 2011
J.K. WallLauth Investment Properties, which holds the remains of the real estate empire of Lauth Group, has emerged from Chapter 11
bankruptcy, with about $25 million and a portfolio of properties valued at $35 million.
MoreIndiana Downs owner halts lawsuit amid bankruptcy
May 18, 2011
Bloomberg NewsCordish Cos., a real-estate developer trying to build a casino near Baltimore, must temporarily halt a defamation lawsuit
against the chief executive officer of Shelbyville casino owner Indianapolis Downs LLC, a federal judge said Tuesday.
MoreIndiana Live makes staff reductions
May 13, 2011
Francesca JaroszIndiana Live laid off about 30 members of its 800-person staff this week as the race track and casino’s owners sort
through Chapter 11 bankruptcy.
MoreBosma to return $10,000 Durham donation
April 29, 2011
Greg AndrewsFair Finance's trustee says Bosma has agreed to return a $10,000 contribution from Durham. Meanwhile, Carl Brizzi, another
big recipient of Durham donations, is in settlement discussions with the trustee.
MoreLocal developer seeks bankruptcy protection
April 29, 2011
Scott OlsonPlatinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday,
listing several huge debts to prominent local businesses and business people.
MoreGreenwood Shoppes seeks bankruptcy reorganization
April 22, 2011
Scott OlsonThe shopping center on U.S. 31 is the third Broadbent-operated strip mall to fall into bankruptcy and its second in Greenwood
to claim financial problems.
MoreIndiana Live owners using big-buck firms in Chapter 11 case
April 16, 2011
Francesca JaroszIndianapolis Downs LLC, owner of Indiana Live racetrack and casino, has hired top-tier national investment banking and law
firms to represent it in Chapter 11 proceedings in U.S. bankruptcy court in Delaware.
MoreLandlord seeking to evict Jillian's over unpaid rent
April 15, 2011
Scott OlsonThe landlord of the downtown building that houses Jillian's, which filed for bankruptcy protection earlier this week, wants
the restaurant and entertainment complex out of its building, alleging the tenant owes nearly $700,000.
MoreHofmeister jewelry business files Chapter 11
April 15, 2011
The northeast-side retailer listed assets of nearly $3.8 million and liabilities of $5.4 million. Much of the debt includes
a bank loan and money owed to suppliers for inventory.
MoreDowntown Jillian’s restaurant owner files Chapter 11
April 13, 2011
Scott OlsonLocally based FB&F Entertainment LLC, which operates downtown restaurant and entertainment complex Jillian's, lists no assets
and liabilities of nearly $2.2 million.
MorePortrait Homes parent files for bankruptcy
April 11, 2011
Kathleen McLaughlinChicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait
Homes Indiana, which built hundreds of homes in the Indianapolis area.
MoreResidential developer declares bankruptcy
April 6, 2011
Scott OlsonJohn Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel,
is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
MoreIndy lawyer pays $371,000 to settle Fair Finance lawsuit
March 31, 2011
Greg AndrewsFair Finance's bankruptcy trustee says attorney Stephen Plopper and his wife are paying the full amount due under a loan that
matured in 2006.
MoreBank seeks to foreclose on Polo Club restaurant
March 28, 2011
The south-side steakhouse is named in lawsuit stemming from a $1 million loan made to the former owners of a Steak & Ale restaurant
at the location on South East Street.
MoreFair Finance investors likely to recover little money
March 17, 2011
Scott OlsonAuthorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they're likely
to recoup just a "teeny-tiny" fraction.
MoreOfficials: Fair Finance largest fraud case in state's history
March 16, 2011
Scott Olson
Timothy S. Durham (pictured at far left), James F. Cochran and Rick D. Snow were all arrested on Wednesday following
a grand jury indictment.
BREAKING: Durham, two other executives indicted for fraud
March 16, 2011
IBJ StaffBeleaguered local businessman Tim Durham and two other executives tied to bankrupt Fair Finance Co. have been indicted on
felony charges of wire fraud, securities fraud and conspiracy to commit wire fraud and securities fraud. The Securities and
Exchange Commission also filed a complaint against the men in federal court.
MoreSuitors circle faltering racino
March 5, 2011
Francesca JaroszTwo racetrack owners have signaled they’re interested in buying Indiana Live racetrack and casino in Shelbyville as
the facility begins to sort out its massive debt.
MoreBankruptcy filings ease slightly in Indiana
February 28, 2011
Scott OlsonTotal bankruptcy filings in the Southern District of Indiana, which encompasses Indianapolis and the surrounding counties,
ticked down last year. Business bankruptcies in Indiana dropped 3.2 percent.
MoreFair bankruptcy trustee hears from prospective Lampoon suitors
February 22, 2011
Greg AndrewsFair Finance Co.’s bankruptcy trustee is getting inquiries from parties interested in buying National Lampoon Inc.,
the Los Angeles-based comedy business led by embattled Indianapolis businessman Tim Durham.
MoreCourt OKs reorganization plan for Hoosier Park owner
February 22, 2011
Bloomberg NewsHoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million
and exit bankruptcy.
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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.