Former Thomson plant back in bankruptcy
A Bloomington investor bought the sprawling complex out of receivership in 2008, and had hoped
to spend more than $20 million to renovate it.
Bankruptcy
Articles
Simon, rival seek foreign investors to back General Growth bid
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
Fair Finance trustee to make life tough for people on loan list
Borrowers from Tim Durham's bankrupt finance company will face heavy-handed collection tactics.
Bankruptcy court gives General Growth more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers–including a $10 billion bid from Indianapolis-based Simon Property Group Inc.
Creditors: General Growth biased toward Brookfield proposal
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
Bankruptcy trustee for Fair Finance wades into morass of insider loans
Brian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to make sense of them.
Report: Brookfield plans bid for Simon target General Growth
Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
Judge places Fair Finance into bankruptcy
A federal trustee will take control of the company’s assets while securities-fraud probes continue.
Banks suing Broadbent, pushing one strip center into bankruptcy
Locally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
Shareholders in bankrupt Accuride pursuing loan
Accuride shareholders are trying to arrange a $400 million loan to fund the Evansville company’s exit from bankruptcy.
Lender alleges Lauth insiders backdated loan documents
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case
suggested Lauth insiders may have backdated documents to thwart creditors.
Housing meltdown claims at least one homebuilder
Two more local homebuilders fell victim in 2009 to the prolonged meltdown of the housing market. Carmel-based
C.P. Morgan Communities LP closed in February, and Indianapolis-based Hansen & Horn Group Inc. is teetering on the edge
of bankruptcy.
Radio giant Citadel files for bankruptcy protection
Las Vegas-based Citadel Broadcasting, which owns three radio stations in Indiana, filed for Chapter 11 bankruptcy protection
on Sunday in an effort to restructure its hefty debt load.
Indiana troopers fraternal group files bankruptcy
The Indiana Troopers Association has filed for bankruptcy protection as the fraternal organization is in a court fight with
telemarketing companies it hired for fund-raising work.
Remnants of failed Premier Properties finally hit market
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
Venu site
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
Failed jewelry retailer to sell millions in inventory
An old-line Indianapolis jewelry business has shut down, setting the stage for the sale of millions of dollars in remaining
inventory through auctions planned in Indianapolis, Chicago, Miami and Naples, Fla.
Failed Charlotte skyscraper brings Indianapolis developer back to earth
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
Irwin Financial files for bankruptcy liquidation
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining
assets of the troubled banking company.
Developer Lauth’s bankrupt units win round in court
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals
to retain control of three subsidiaries in Chapter 11 bankruptcy.
Chrysler sticks it to Kokomo
Officials in Kokomo and Howard County are in a tough spot. The “new” Chrysler created after its bankruptcy
sale to Fiat contends it‘s no longer on the hook for $12.9 million it owes various local taxing bodies this year and
$12.3 million it will owe next year.