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Bankruptcy
Trustee: Durham used Fair funds for gambling, donations
August 3, 2010
Greg Andrews, Associated PressThe bankruptcy trustee said Durham spent $2.8 million on gambling and resorts, $3.3 million on interior decorating and $14
million on real estate.
MoreLauth moving HQ to North Meridian office building
July 29, 2010
IBJ StaffLauth Group Inc. will relocate its headquarters to a North Meridian Street office building as part of a bankruptcy court settlement,
the company announced Thursday afternoon.
MoreTrustee sues real estate exec for $115M
July 10, 2010
Cory SchoutenThe founder of an Indianapolis real estate firm is accused of preying on longtime friends to help a Miami man perpetrate a
$900 million Ponzi scheme. Sydney “Jack” Williams persuaded more than a dozen Indiana investors to lend millions
of dollars at high interest rates to a food brokerage firm called Capitol Investments USA Inc.
MoreFBI scoops up Tim Durham's car collection
June 30, 2010
Greg AndrewsAn agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis
and Los Angeles.
MoreTrustee asks for Hansen & Horn bankruptcy to be dismissed
June 28, 2010
Scott OlsonBeleaguered home builder doesn't appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
MoreDurham willingly turning over assets in Fair bankruptcy
June 26, 2010
Greg AndrewsTim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
June 24.
MoreDurham attorney blasts FBI after vehicle seizures
June 25, 2010
Greg AndrewsEmbattled financier Tim Durham's lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles.
An attorney for
the trustee said investigators were aware.
MoreDurham poised to turn over proceeds of mansion sale
June 21, 2010
Greg AndrewsBeleaguered financier Tim Durham acknowledges owing millions to Fair Finance and is turning over artwork and selling assets
to reduce the loan, according
to an attorney overseeing the company's bankruptcy.
MoreDurham's Geist mansion listed for $5.5 million
June 19, 2010
IBJ StaffBeleaguered local businessman Tim Durham's Geist home is listed for sale with a $5.5 million asking price.
MoreSimon withdraws bid for General Growth
May 7, 2010
IBJ Staff and Bloomberg NewsIndianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy
court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
MoreGeneral Growth hearing delayed to weigh bids
April 26, 2010
Bloomberg NewsGeneral Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
MoreSimon adds $1.1B to General Growth proposal
April 22, 2010
Bloomberg NewsSimon Property Group Inc. added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge
from bankruptcy, increasing the plan’s total investment by $1.1 billion.
MoreFair Finance trustee sues Dan Laikin for $19M
April 13, 2010
Greg AndrewsThe suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass
of related-party loans that propelled the company into insolvency.
MoreCentaur's junior lenders press for bankruptcy liquidation
April 13, 2010
Peter SchnitzlerUnsatisfied with the Hoosier Park owner's reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion
of Chapter 11 bankruptcy into Chapter 7.
MoreReport: Simon may drop General Growth bid
April 12, 2010
Bloomberg NewsShares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
MoreCentaur bets on risky restructuring plan
April 10, 2010
Peter SchnitzlerBankrupt Hoosier Park owner Centaur Inc. has offered its creditors a risky reorganization plan. For it to work, dozens of
hedge funds must stay in the game, in return for a chance to buy a big chunk of the company later.
MorePath to Fair Finance funds full of detours, roadblocks
April 10, 2010
Greg AndrewsThe troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for
investors.
MoreDowngrade a red flag for Indiana Live casino
April 3, 2010
Peter SchnitzlerNew York-based Moody's Investors Service has downgraded its credit rating for Indiana Live horse track and casino, a warning
signal that the Shelbyville facility may soon follow its Anderson counterpart Hoosier Park into bankruptcy.
MoreVogue owner's bankruptcy may force sale of venue
March 27, 2010
Peter SchnitzlerA mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.
MoreFormer Thomson plant back in bankruptcy
March 27, 2010
Cory SchoutenA Bloomington investor bought the sprawling complex out of receivership in 2008, and had hoped
to spend more than $20 million to renovate it.
MoreSimon, rival seek foreign investors to back General Growth bid
March 15, 2010
IBJ StaffIndianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
MoreFair Finance trustee to make life tough for people on loan list
March 6, 2010
Greg AndrewsBorrowers from Tim Durham's bankrupt finance company will face heavy-handed collection tactics.
MoreCreditors: General Growth biased toward Brookfield proposal
March 3, 2010
Bloomberg NewsGeneral Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
MoreBankruptcy trustee for Fair Finance wades into morass of insider loans
February 27, 2010
Greg AndrewsBrian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to
make sense of them.
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
Pimlico
While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!
You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.