Indianapolis-based Republic Airways Holdings Inc.’s unsecured creditors are likely to recover less than 50 cents on the dollar in the airline’s bankruptcy, and stockholders should expect nothing at all, according to a letter from the company.
Republic says the professional-services firms it has tapped should be paid well because they're helping the Indianapolis company work through a "unique set of circumstances" that has never been faced in an airline bankruptcy.
Republic Airways Holdings Inc. won permission to use the bankruptcy process to return what it says are some of its less attractive airplanes and engines.
The south-side restaurant on U.S. 31 is among 90 eateries under parent Ovation Brands Inc.’s umbrella that have been closed nationwide.
Indianapolis-based Republic reached a watershed contract agreement with pilots last October, but it wasn’t enough to allow the carrier to regain its financial footing. Republic shares plummeted on news of the bankruptcy filing.
Carmel-based Nightingale Home Healthcare Inc. is trying to keep from being kicked out of the federal Medicare program for allegedly putting patients in “immediate jeopardy,” according to documents in a bankruptcy reorganization case the company filed in December.
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.”
The indictment likely means prosecutors were unable to reach a plea agreement with Wolfe, who was preliminarily charged in late 2014.
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.
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.
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.
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.
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.
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.
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.
After flying so high, HDG Mansur's Harold Garrison had a long way to fall, and he's taken quite a tumble.
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.
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.