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.
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.
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.
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.
Brad Davis and Paul Estridge Jr. belong to a select fraternity. They’re prominent Indianapolis homebuilders whose companies faltered during the housing downturn, only to re-emerge in another incarnation.
Carmel-based ITT Educational Services no longer has a margin of error, as it tries to dig out from a scuttled real estate deal, tightened rules from lenders and the feds, and its CEO’s pending resignation.
Fishers Banquet & Conference Center’s owners insist business is booming despite a recent bankruptcy filing by the entity that owns the property at 9779 North by Northeast Blvd.
El Sol de Tala, a staple on East Washington Street for several decades, shut its doors earlier this month amid a court dispute between the restaurant's owner and his landlord.
The bankruptcy trustee who has been trying to scrape together money for victims of Indianapolis financier Tim Durham’s Ponzi scheme just struck two lawsuit settlements that underscore the daunting obstacles he faces.
The lender for the Hawthorns Golf & Country Club is an affiliate of California-based Concert Golf Partners, which hopes to convert its debt into ownership of the Fishers club.
The judgment in a New York court stems from allegations by a Sharia fund that the affiliates stole funds. HDG argued that it charged the additional fees to rectify a billing error.
Indiana Limestone Co. technically closed and laid off all its workers earlier this month to fulfill a bankruptcy plan, then a few days later reopened with the new owners and rehired employees.
The Fishers debt collection agency had been forced into bankruptcy by creditors. On Monday, a judge approved a request to terminate the once-promising firm.
Creditors are trying to force the company, which just two years ago was touting ambitious expansion plans, into bankruptcy.
The bankruptcy of a Kansas restaurant company has cast uncertainty over the future of its five Indianapolis-area restaurants—three Chammps Americanas and two Fox and Hounds.
The move comes after a lender filed a $4.8 million foreclosure lawsuit on the club and asked a Hamilton County court to appoint a receiver.
Paul J. Page was one of four principals of troubled Indianapolis-based condo firm Page Development, which spearheaded the Villagio at Page Pointe project at the south edge of downtown.
The Madison Park Church of God in Anderson has a green light to exit bankruptcy under a Chapter 11 plan approved by an Indianapolis judge late last week.
Indianapolis-based Adayana Inc. received permission this week from U.S. Bankruptcy Court in Indianapolis to sell the business to a secured lender in exchange for millions of dollars in debt.
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
