First checks leave Durham victims underwhelmed
The $18 million payout to some 5,000 investors in Fair Finance Co. represents a recovery of about 9 cents on the dollar.
Bankruptcy
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Supreme Court could weigh in on student debt battle
The lawsuit asks the court to clarify 1970s-era rules that prevent borrowers from getting rid of education debt in bankruptcy, except in cases in which repaying it would constitute an “undue hardship.”
Collection-agency exec Wolfe indicted on fraud charges
The indictment likely means prosecutors were unable to reach a plea agreement with Wolfe, who was preliminarily charged in late 2014.
Indiana city remembers Columbia House after bankruptcy
At its peak, Columbia House employed more than 1,200 people at its distribution plant in Terre Haute, while another 5,000-plus worked at the massive companion Columbia Records plant. The record club connected the world to both facilities.
Personal guarantees haunt Centre Properties founders
A Cincinnati bank that won a $2.1 million judgment on personal guarantees from Centre Properties founders Craig Johnson and James Singleton took the extreme action recently of having bank accounts frozen after the pair did not pay up.
Fair Finance trustee reaches $3M settlement with National Lampoon
The deal would resolve a 2011 lawsuit accusing former Indianapolis businessman Tim Durham of using Fair Finance funds to prop up National Lampoon. He is a former CEO of both companies.
Auction set to liquidate Clark Appliance inventory
An auction to liquidate millions of dollars in inventory from now-defunct retailer Clark Appliance has been scheduled for March 28-29, Indianapolis-based Key Auctioneers announced Friday.
Reeling developer dumps ‘worthless information’ on court
A judge ordered HDG Mansur chief Harrold Garrison to appear in court after creditors charged he is dodging their requests for information and filed a contempt motion.
Radio Shack gets bankruptcy OK to close 45 stores in Indiana
RadioShack Corp. can start getting rid of its inventory right away, a judge said in approving the 94-year-old consumer-electronics chain’s request to begin store-closing sales. The list includes more than a dozen local stores.
Clark Appliance preparing to liquidate inventory
The liquidation follows last month’s closing of the high-end appliance retailer’s store in Castleton and comes after a failed attempt to reorganize.
Indiana’s Monroe Hospital files Chapter 11 liquidation plan
About one month after receiving court approval to sell its 32-bed acute-care surgical hospital in Bloomington, Monroe Hospital LLC filed a Chapter 11 plan of liquidation.
Challenges mushroom for embattled HDG Mansur chief
After flying so high, HDG Mansur's Harold Garrison had a long way to fall, and he's taken quite a tumble.
Clark Appliance files Chapter 11 bankruptcy protection
In a letter to customers, company president Bob Clark said he has no intention of closing the 100-year-old business and is working to finalize a deal for financing to continue operating.
Hawthorns golf club headed to auction; lender seeks control
The future of the Hawthorns Golf & Country Club in Fishers is expected to become clearer next week, when a bankruptcy court judge weighs in on the lender’s plan to take over operations.
New Indiana Toll Road operator due amid bankruptcy
The debt-ridden private company running the Indiana Toll Road intends to transfer its operations to a new entity under a bankruptcy filing planned for Monday.
Examiner appointed in HDG Mansur bankruptcy case
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur. A judge, for the time being, denied a request to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7.
Liquidation not needed, developer HDG Mansur tells court
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.
Appeals court affirms all but two of Durham’s convictions
The appellate court reduced Tim Durham's felony convictions from 12 to 10 and ordered him resentenced. It said the government, in an "oversight," had failed to submit key evidence related to the two dismissed counts.
Fair Finance judge throws out $33M Dan Laikin judgment
The ruling is a big setback for bankruptcy Trustee Brian Bash, who has yet to provide any recovery to the more than 5,000 Ohio residents who lost more than $200 million when the Tim Durham-led company collapsed in 2009.
Two HDG Mansur creditors seek liquidation of the firm
The firms claim in court filings that HDG Mansur has no hope of reorganizing under Chapter 11 and is stalling to avoid paying a $5.8 million judgment.