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Bankruptcy
Castleton Plaza seeks bankruptcy reorganization
February 18, 2011
Scott OlsonShopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter
11 filing follows a request to foreclose on the property from the center's lender.
MoreE-mails detail Fair Finance partner's money woes
February 17, 2011
Greg AndrewsE-mails filed in bankruptcy court this week show that Fair Finance Co. co-owner Jim Cochran spent money with such abandon
that by 2008 he was living off credit cards and imploring CEO Tim Durham to more than double his salary to $1 million.
MoreUPDATE: Borders files bankruptcy, to close 2 area stores
February 16, 2011
IBJ Staff and Bloomberg NewsBorders will close its downtown-Indianapolis and Carmel stores as part of its plan to shutter about 30 percent of its stores
nationally.
MoreFair trustee: Durham committed fraud of 'shocking proportions'
February 15, 2011
Greg AndrewsFair Finance Co.’s bankruptcy trustee alleges Tim Durham perpetrated a fraud of "shocking proportions,”
draining huge sums from the Akron, Ohio, firm for years to mask that his business empire had collapsed.
MoreFair Finance trustee sues Indy attorney for $375,000
February 15, 2011
Greg AndrewsThe loan from Fair Finance Co. to Stephen and Linda Plopper matured in 2006, but the couple has failed to satisfy the debt
despite recent demands for payment, the suit alleges.
MoreFair Finance trustee still searching for deep-pocketed savior
January 29, 2011
Greg AndrewsTrustee Brian Bash and his legal team have yet to publicly implicate anyone who appears to have the cash to substantially
reduce the staggering losses.
MoreDurham car collection fetches $2.2M
January 22, 2011
Greg AndrewsA 1929 Duesenberg once driven by Elvis Presley garnered the largest price—$1.237 million.
MoreTim Durham's exotic cars hit auction block
January 21, 2011
Greg AndrewsFair Finance Co.'s bankruptcy trustee scheduled the Friday auction to raise money for creditors of the defunct company, including
more than 5,000 Ohio residents who hold more than $200 million in unsecured investment certificates.
MoreFedEx fights to overturn jury's $66M award to ATA
January 15, 2011
Greg AndrewsATA charged in the two-year-old breach-of-contract suit that FedEx’s unexpected decision in January 2008 to drop it
as a military-charter partner forced it into bankruptcy liquidation that spring.
MoreHoosier Park parent set to emerge from bankruptcy
December 28, 2010
IBJ Staff and Bloomberg NewsHoosier Park Racing & Casino’s parent company could emerge from bankruptcy early next year if creditors approve
a reorganization plan that’s set for a court hearing in Delaware on Feb. 1.
MoreBankruptcy trustee sues Durham art bidders
November 18, 2010
Jim Mackinnon / Akron Beacon JournalA Florida art dealer who successfully bid more than $260,000 on artwork that once belonged to Fair Finance Co. co-owner Timothy
Durham says he canceled the sale. Now he and another big bidder from Philadelphia are being sued by Fair Finance bankruptcy
trustee Brian Bash for nonpayment.
MoreMoe & Johnny’s owner files for bankruptcy reorganization
November 12, 2010
Scott OlsonOwner Chuck Mack says popular tavern and restaurant Moe & Johnny's, open in Broad Ripple since 1996, is in no danger of closing
despite the Chapter 11 filing.
MoreOwner of city apartment complex files Chapter 11
October 26, 2010
Kathleen McLaughlinThe owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection
as it disputes the amount of its mortgage debt with its lender.
MoreDeveloper tied to Ponzi slides into bankruptcy
October 23, 2010
Cory SchoutenSydney "Jack" Williams earned commissions by persuading dozens of investors, many with Indiana ties, to lend millions
of dollars to a business that turned out to be fake.
MoreFair Finance artwork fetches more than $400,000 at auction
October 17, 2010
Jim Mackinnon / Akron Beacon JournalSaturday's art auction of work collected by Fair Finance co-owner Timothy Durham raised more than $400,000 — well
above what the Akron company's bankruptcy trustee and even the auctioneer thought would be brought in.
MoreDurham art auction offers hope for Ohio investors
October 13, 2010
Cory SchoutenThe eclectic art collection of disgraced financier Tim Durham will hit the auction block Saturday in a sale that could help
restore a small portion of the money lost by investors in Ohio's Fair Finance.
MoreDeveloper of Binford Medical Complex files for Chapter 11
October 12, 2010
Cory SchoutenThe developer of an unfinished medical office complex on Binford Boulevard has filed for Chapter 11 bankruptcy protection
in hopes it can retain control of the property and resume construction later this year.
MoreLocal environmental contractor declares bankruptcy
October 8, 2010
Indianapolis-based ESI Environmental Inc. filed for Chapter 7 liquidation in U.S. Bankruptcy Court. The firm was the area's
second-largest environmental contractor based on revenue, according to the most recent IBJ statistics.
MoreWilliams Realty founder pleads the Fifth in Ponzi case
September 11, 2010
Cory SchoutenA former Indianapolis developer accused of luring more than a dozen Hoosiers into a $900 million Ponzi scheme invoked the
Fifth Amendment more than 850 times when questioned under oath in Florida.
MoreLauth revival hinges on judge approving settlement
September 4, 2010
Cory SchoutenThe deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more
manageable debt load.
MoreCasino operator Centaur aims to exit bankruptcy much leaner
August 21, 2010
Scott OlsonCentaur plans to sell a casino west of Denver and a stalled casino development near Pittsburgh.
MoreFair Finance trustee finds lots of debts, few assets
August 14, 2010
Greg AndrewsTim Durham, Fair’s co-owner and CEO, burned through staggering sums on a lavish lifestyle, loans and gifts to friends,
and loans to businesses he partly owned that performed dismally.
MoreTim Durham closes New Castle restaurant
August 13, 2010
Greg AndrewsA sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
MoreLawmaker wants Durham donations returned
August 12, 2010
IBJ Staff and Associated PressState Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy
Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy
earlier this year.
MoreTrustee pressing Daniels, others to return Durham's donations
August 5, 2010
J.K. WallTrustee Brian Bash has sent letters to politicians who he says received a total of $900,000 in funds Durham had borrowed
from the coffers of Fair Finance, a now-bankrupt investment firm based in Ohio.
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.