Bankruptcy

Southwest swoops in to benefit from ATA Airlines' bankruptcyRestricted Content

December 1, 2008
Chris O'Malley
Southwest is striking a deal to acquire ATA's valuable landing slots at LaGuardia and most of the dying airlines' remaining assets for $7.5 million.
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NFP of NOTE: Momentive Consumer Credit Counseling Services

December 1, 2008
Momentive Consumer Credit Counseling Services work to change lives by helping people gain financial stability.
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Winona lacks evidence to prove fraudulent money transferRestricted Content

November 3, 2008
The trustee for Winona Memorial Hospital lost in court against the hospital's former owner earlier this month — but not without receiving a bit of vindication from the judge in the case.
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Filing in legal battle over telecom company hints at criminal probe of officersRestricted Content

September 29, 2008
Chris O\'malley

Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company's court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.

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Recession squeezes local logistics industryRestricted Content

July 21, 2008
Peter Schnitzler
State economic development leaders remain bullish on Indiana's future as a logistics hub even as two local players have been forced into bankruptcy and others struggle with high fuel prices.
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Three failed businesses sink former Carson foe DickersonRestricted Content

June 16, 2008
Cory Schouten
Former car dealer and congressional candidate Eric Dickerson has filed for personal bankruptcy after three failed businesses left him saddled with more than $1 million in debt. Dickerson says he is virtually broke save for a $101,000 inheritance he is set to receive from the estate of his late mother.
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Bankrupt ATA may sue ex-partner FedExRestricted Content

June 9, 2008
Greg Andrews
ATA Airlines Inc. largely blames FedEx Corp. for knocking it out of business this spring. Now, the bankrupt airline is preparing to fight back by suing the Memphis cargo giant, charging it wrongfully canceled a military-charter contract that generated hundreds of millions of dollars in revenue for ATA.
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ATA plan ticks off terminated pilots, attendantsRestricted Content

April 14, 2008
Chris O'Malley
Former ATA Airlines employees are trying to comb the wreckage of the bankrupt carrier, looking to grab their financial belongings before managers and lenders cart off what little is left. Pilots and flight attendants are opposing retention bonuses for managers who will spend the next several months turning out the lights of the 35-year-old carrier.
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Premier Properties lays off workers as lawsuits, debt pile upRestricted Content

April 7, 2008
Cory Schouten
Premier Properties USA Inc. has eliminated about half its headquarters staff--more than 40 employees--as banks seize several of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally redirected rent payments and check fraud.
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Winona trustee still fighting hospital creditors, ex-ownerRestricted Content

February 11, 2008
J.K. Wall
Paul Gresk, the bankruptcy trustee overseeing the liquidation of Winona Memorial Hospital, is pushing for a showdown in court to prove his claims that Winona's former owner, Leland Medical Centers Inc., illegally transferred more than $4 million out of Winona.
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Real estate exec with lavish lifestyle accused of $160M fraudRestricted Content

January 14, 2008
Chris O'Malley
A high-flying Carmel businessman who moved his base of operations to Miami a couple of years ago is accused of burning through $160 million of investors' money in the collapse of his real estate empire.
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Symons puts biz into Ch. 11, undercutting rival's court winRestricted Content

September 10, 2007
J.K. Wall
Alan G. Symons' company, Fast Tek Group LLC, lost a court fight with Fishers-based competitor Product Action International LLC in February. So Symons pushed Fast Tek into Chapter 11 bankruptcy protection in June--a move that clears the way for a suitor to buy the assets without being saddled with the liabilities.
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Post-bankruptcy turnaround not taking off for ATARestricted Content

September 10, 2007
Chris O'Malley
More than 18 months after flying out of a bankruptcy reorganization that unloaded $1 billion of debt and costly aircraft leases, the parent of ATA Airlines still finds landing a profit elusive. Indianapolis-based Global Aero Logistics posted a loss of $46.1 million in the first half of 2007, according to documents it filed with the Securities and Exchange Commission.
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Once-hot cooler company's new owners trying to rejuvenate businessRestricted Content

March 26, 2007
Anthony Schoettle
After almost 60 profitable years that saw Elliott-Williams Co. install walk-in refrigerators and freezers in almost every Indiana school, hospital and hotel, the venerable firm was brought to its knees last year. But an unlikely savior, a new locally based venture capital firm, bought EW out of bankruptcy for $507,000, about the cost of 10 EW walk-ins.
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Winona Hospital litigation fizzlesRestricted Content

January 1, 2007
Tom Murphy
A court-appointed trustee in charge of Winona Memorial Hospital's bankruptcy says he believes former owners fleeced it for more than $4 million. But he has little to show from his two-year quest to recover money for creditors and now is winding down the case.
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$1.7M invested in failed firm not authorized, sources sayRestricted Content

September 25, 2006
Chris O'Malley
Trade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million they loaned to a local debt-collection agency--loans that sources said were made without the knowledge of the groups' boards or membership.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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