Owner of city apartment complex files Chapter 11
The 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.
Banking & Finance
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Judge OKs General Growth’s restructuring plan
General Growth Properties Inc. said Thursday a bankruptcy judge has approved its reorganization plan, clearing the way for the Simon Property Group rival to emerge from Chapter 11 bankruptcy protection early next month.
Indiana church financier convicted of Ponzi scheme
Jurors deliberated about four hours before convicting Vaughn Reeves, 66, on nine counts of securities fraud.
HAUKE: Lofty expectations sting some high-profile stocks
Sometimes the inner workings of Wall Street confound the wily and the wise.
Developer tied to Ponzi slides into bankruptcy
Sydney "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.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
Farmland sales go flat in suburban Indianapolis
The real estate bust and a drought in transactions make values all but impossible to gauge.
M&I Bank names new Indiana president
Tim Massey, who has been head of commercial banking, replaces Reagan Rick, who was promoted to a regional management position.
Principal Financial shift to result in local layoffs
Financial giant Principal Financial Group Inc. is exiting the health insurance business, a move that will cost 60 Indianapolis workers their jobs.
Indiana couple accuses Bank of America of racketeering
Dwayne Ransom Davis and Melisa Davis accuse the lender of using “robo-signers,” people who sign affidavits attesting to facts underlying foreclosures without actual knowledge of those facts, to push through paperwork to take their home in Knightstown.
Banks tread water as they wait for economy to improve
Banking experts say the health of Indiana institutions is taking baby steps forward along with the tepid economic recovery. But in these times, recovery looks grimmer than one might expect.
Fair Finance artwork fetches more than $400,000 at auction
Saturday'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.
Indiana Live swamped by debt, faces potential default
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
SKARBECK: Biglari’s pay plan is raising eyebrows
Unfortunately, if BH thought it was breaking ground in the field of executive compensation with this plan, it has fallen short.
HICKS: Why the stimulus didn’t stimulate enough
The failure of the American Recovery and Reinvestment Act to deliver us from high unemployment will provide research grist for economists for decades to come.
ChaCha lands $20 million venture investment
The funding comes from new investors VantagePoint Venture Partners and Rho Ventures. Since its inception in December 2005, ChaCha has raised more than $50 million, including $7 million earlier this year from a venture capital fund.
Hentschel ramrodding KeyBank development in Indianapolis
Exec adds branches, deposits, after completing a stint at a human-resources firm.
Durham art auction offers hope for Ohio investors
The 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.
LEADING QUESTIONS: CPA Sponsel takes calculated risk
With a family history rich with entrepreneurs, Tom Sponsel decided late in his accounting career to strike out on his own.
Lawyer doesn’t buy Schrenker’s claims that he’s broke
Schrenker, 39, testified Tuesday that his assets had been seized and he had no source of income since going to jail. He also faces millions of dollars in court-ordered judgments upon his release.