Law

Brightpoint exec Fivel leaving for Simon Property Group

January 19, 2011
 IBJ Staff
One of the top executives at Brightpoint Inc. is leaving the Indianapolis-based cell phone distributor to take a similar position at Simon Property Group.
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Fair Finance trustee sues Durham relatives

January 17, 2011
Greg Andrews
The case against Jeffrey and Dana Osler is the latest in what is expected to be a string of suits by the trustee against friends and business associates of Tim Durham who took out loans from Fair Finance but made few if any payments.
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FedEx fights to overturn jury's $66M award to ATARestricted Content

January 15, 2011
Greg Andrews
ATA 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.
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Dean of I.U.'s Maurer School of Law named to head national group

January 15, 2011
 IBJ Staff
Lauren K. Robel was elected the next president of the American Association of Law Schools on Jan. 7.
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Indiana chief justice endorses sentencing changes

January 12, 2011
Associated Press
A report suggests allowing judges to sentence people convicted of lesser felonies to community corrections, which would help free up prison space for the state's worst offenders and potentially saving more than $1 billion that would otherwise go toward building new prisons.
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Roche back in court as partner looks to sell to competitor

January 12, 2011
J.K. Wall
Roche Diagnostics requested a temporary restraining order against Medical Automation Systems Inc. Tuesday after receiving word the company is speeding up plans to sell itself to Roche rival Alere Inc.
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Developer who drew friends into Ponzi reaches $1M dealRestricted Content

January 8, 2011
Greg Andrews
Sydney "Jack" Williams, founder of Williams Realty Group, recruited dozens of investors, many with Indiana ties, to invest in a Florida business that turned out to be a giant fraud.
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Roche aims to prevent bidding war for software firm

January 7, 2011
J.K. Wall
The Swiss company, which operates its North American business out of Indianapolis, filed a lawsuit late last month against Virginia-based Medical Automation Systems Inc. for breaching the purchase agreement the companies signed back in October.
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Law firm launches economic development consultancy

January 4, 2011
Scott Olson
Barnes & Thornburg aligns with new venture BT ProjectPoint LLC to provide clients economic development and project-financing consulting services.
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Conseco brass agree to settle 8-year-old suit for $41.5MRestricted Content

January 1, 2011
Greg Andrews
The suit accused CEO Gary Wendt, President Bill Shea, Chief Financial Officer Charles Chokel and Chief Accounting Officer Jim Adams of engaging in a “massive and systematic coverup of ... actual debts and losses through complex accounting, misleading disclosures, and irregular accounting practices.”
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Embattled prosecutor Brizzi plans new business

December 31, 2010
 IBJ Staff and Associated Press
Marion County Prosecutor Carl Brizzi said he plans a new business in reputation management. He will also work as an attorney from offices in Hamilton County and Indianapolis.
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Broadband provider sends troubling financial signals

December 30, 2010
Chris O'Malley
Omnicity Corp. is a half-year behind in payments to a Muncie lender and faces several lawsuits over unpaid bills from companies it acquired.
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Emmis pitching in on breach-of-contract lawsuit

December 29, 2010
 IBJ Staff
Emmis Communications Corp. will contribute $200,000 toward legal fees in a lawsuit that company founder Jeff Smulyan's JS Acquisition LLC filed over its failed effort to take the Indianapolis-based media company private.
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Insurer for Durham firm to settle suits for $5.5M

December 20, 2010
Greg Andrews
The agreement allows embattled financier Tim Durham to remain on the board of CLST Holdings, but mandates he step down as chairman and not vote on any matter unless doing so would make the board unanimous.
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FEIGENBAUM: 'There is no money' takes on new meaning

December 18, 2010
Ed Feigenbaum
Tight tax revenue will force hard choices on the General Assembly.
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FBI investigating Durham firms for phone cramming

December 16, 2010
Cory Schouten
The FBI is asking land-line phone customers across the country to check their bills for phantom charges from more than 20 companies controlled by or connected to embattled financier Tim Durham.
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Judge removes Bren Simon as trustee over late husband's estate

December 16, 2010
Cory Schouten
A series of questionable decisions by Bren Simon in recent months appear to have paved the way for a Hamilton County judge’s order this week removing Bren as interim trustee over Simon Property Group co-founder Melvin Simon’s estate.
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Daniels endorses findings of criminal code review

December 15, 2010
Associated Press
Sweeping changes proposed for Indiana's criminal sentencing system won the endorsement Wednesday of Gov. Mitch Daniels, who said that if lawmakers enact the changes they would hold down the state's ballooning prison population and save taxpayer money.
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Hillenbrand wins ban of knockoff coffins from Mexico

December 14, 2010
Bloomberg News
The U.S. International Trade Commission said Monday that Ataudes Aguilares will be barred from bringing in caskets with attached memorabilia compartments, which Batesville-based Hillenbrand has patented.
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Former Allison executive alleges bribery

December 11, 2010
Kathleen McLaughlin
Stephen Lowe, a former Allison Transmission managing director based in Shanghai, claims the company booted him from a top post in China because he raised concerns about bribery.
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Whistleblower suit cites Rolls-Royce engine flaws

December 8, 2010
 IBJ Staff and Associated Press
Rolls-Royce Corp. concealed repeated defects at an aircraft engine plant in Indianapolis and fired a safety official for reporting the problems, according to a lawsuit filed in federal court.
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Cosmopolitan apartment fire prompts lawsuit

December 8, 2010
Scott Olson
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit's adjacent headquarters.
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Indiana church financier gets 54 years for Ponzi scheme

December 7, 2010
Associated Press
A judge sentenced 66-year-old Vaughn Reeves to 54 years in prison during a court hearing Tuesday in Sullivan. A jury convicted him in October on nine counts of securities fraud.
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Nursing home firm to pay $376K in Medicaid case

December 6, 2010
Associated Press
Indiana Attorney General Greg Zoeller says a nursing home company will pay $376,000 to the state and federal governments over accusations that it submitted ineligible bills to Medicaid.
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Tabbert Hahn lawyers joining Bose McKinney

December 6, 2010
Scott Olson
Bose McKinney will take nine lawyers, including name partners Gregory Hahn and Robert Weddle, from smaller law firm that will dissolve near the end of the year.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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