Judge approves $2.46B Boy Scouts reorganization plan
More than 80,000 men have filed claims saying they were abused as children by Boy Scouts troop leaders around the country.
Bankruptcy
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Product-liability lawsuits against 3M can proceed, Indianapolis judge rules
Indianapolis-based Aearo Technologies LLC’s recent bankruptcy filing won’t shield its corporate parent 3M Co. from the massive flood of product-liability lawsuits over Aeros’ military earplugs, a judge has ruled.
Regal Cinemas parent considers bankruptcy as theater struggles continue
Cineworld faces challenges specific to itself after building up $4.8 billion in net debt, not including lease liabilities. But the entire industry is navigating a tenuous recovery after the pandemic shut theaters worldwide.
Indianapolis-based Aearo files for bankruptcy protection amid flood of lawsuits
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Revlon, beauty icon in crowded market, files for bankruptcy
Already weighed down by rising debt, Revlon’s problems only intensified with the pandemic as lipstick gave way to a new era in fashion, this one featuring medical-grade masks.
Electric vehicle business with big plans for Indiana to file for bankruptcy
Electric vehicle startup Electric Last Mile Solutions Inc. planned to use a 650,000-square-foot plant that was formerly used to make Hummers to manufacture “last mile” battery-powered, urban delivery vans.
Fishers man accused of selling $230M in dubious financial products
The depth of the situation came to light after Robyn Dale “Rob” Whitlow, 51, filed for Chapter 7 bankruptcy protection late last month, declaring personal assets of $45,305, balanced against liabilities of just more than $2 million.
Zionsville-based online retailer Parker Gwen files for bankruptcy
The Chapter 7 bankruptcy filing lists 359 unsecured claims from customers with unfulfilled orders, including many for thousands of dollars.
Prosecutors to ask for eight-year prison sentence for former financial exec
A sentencing hearing is scheduled Thursday for BancServ Partners LLC founder Kerri Agee, who was found guilty on fraud and conspiracy charges in August.
Former Colts player, Stacked Pickle owner Gary Brackett files for bankruptcy
Brackett, who played for the Indianapolis Colts from 2003 to 2011, got into the restaurant business after retiring from the NFL. He closed his Stacked Pickle sports-bar chain in May 2020 because of the pandemic.
Boy Scouts get conditional approval of $850M bankruptcy deal
A bankruptcy judge on Thursday approved a proposal by the Boy Scouts of America to enter into an agreement that includes a fund to compensate tens of thousands of men who say they were sexually abused as youngsters by Scout leaders and others.
Explainer: How Indiana evictions might surge post-moratorium
More than 51,000 eviction filings have been made in Indiana during the pandemic, including nearly 16,000 in the Indianapolis metropolitan area, according to Indiana Legal Services.
Owner of Carmel’s Clay Terrace files for bankruptcy
Washington Prime Group, which filed for bankruptcy Sunday, said it may end up selling some or all of its properties as part of its restructuring. The company also owns several other local retail centers.
Jeweler Alex and Ani files bankruptcy after rapid expansion
Indianapolis-based mall owner Simon Property Group is among the retailer’s largest unsecured creditors; it is owed more than $3 million in rent payments.
Surprise plunge in bankruptcies puts attorneys to test
Economists thought economic turmoil caused by the COVID-19 pandemic would cause bankruptcy filings to surge. Instead, they’ve plummeted, which is forcing bankruptcy practitioners across the state to cut costs or find other work to fill the void.
Judge dismisses NRA bankruptcy case in blow to gun group
A federal judge dismissed the National Rifle Association’s bankruptcy case Tuesday, leaving the powerful gun-rights group to face a New York state lawsuit that accuses it of financial abuses and aims to put it out of business.
Punch Bowl Social to reopen downtown location next week
The 23,000-square-foot restaurant-and-entertainment venue, part of a Denver-based chain, has been closed since March 2020, eliminating 91 jobs.
Hamilton Town Center multiplex to reopen as luxury theater
Michigan-based Emagine said it expects to reopen the Noblesville theater this summer. The theater’s previous operator filed for bankruptcy last year.
Multitude of creditors left high, dry as Celadon bankruptcy case closes
With most liquidation efforts complete, Celadon has raised only $75 million—$45 million short of the $120 million it needed to satisfy a loan from its secured creditors.
Marsh bankruptcy leaves creditors with losses of $340M
The trustee liquidating the grocery chain this month asked the court to close the case, saying he had wrapped up the process of selling off assets and turning proceeds over to creditors.