Deca Financial to wind down after trustee opts for liquidation
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.
Debt
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Trustee takes over Deca Financial Services
Fishers-based bill-collection firm Deca Financial Services LLC missed a March 17 deadline to come up with more than $11 million to avoid involuntary Chapter 11 reorganization sought by its creditors.
CNO Financial to take $57M charge in first quarter
The Carmel-based insurance holding company says it expects to buy back more of its shares and take a special charge tied to a recent tender offer.
Ex-gubernatorial candidates, biz leaders seek national debt fix
A group of Indiana political and business leaders are joining a national effort to pressure Washington, D.C., politicians to find a long-term debt fix.
Battered Broadbent climbs back from brink
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
Wellpoint raises $1.35B in first convertible offering since ’99
Indianapolis-based WellPoint Inc. sold its first convertible securities in more than 13 years with a $1.35 billion offering of 30-year bonds.
Carmel looks at $195 million refinancing package
The Carmel City Council will consider backing a $195 million debt re-issue, which would free up millions of dollars for further development of the massive City Center project.
Carmel councilors want final say on city’s debt
Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.
Arcadia: Don’t buy our stock
Arcadia Resources Inc. is telling shareholders not to buy its stock because it is out of cash and faces a $40 million pile of debt that comes due on April 1.
Firms put off paying, despite easing financial pressure
The trend toward small businesses’ delaying payments appears to have leveled off, but it’s still unclear how soon—or even whether—receivables will return to the 30 days that was standard for most businesses before the recession began in December 2007.
Refinancing boosts Bioanalytical Systems
Shares of the West Lafayette-based pharmaceutical-services firm soared after it wriggled out from under a $1.3 million loan that was due in February.
Indiana Live owners miss interest payment
The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.
Indiana Live swamped by debt, faces potential default
Owners of the Indiana Live racetrack and casino face an interest payment on the lion’s share of their $544 million in debt next month, as credit analysts continue fretting about the company’s ability to pay its bills.
Developer facing legal action everywhere it has built condos
Three of the four principals in Page Development were in court June 8 to sift through the fallout from a $1.35 million judgment
against them. It’s only the tip of Page Development’s financial straits.
Vogue owner’s bankruptcy may force sale of venue
A mix of business and personal woes have pushed Steven Carter Ross, the longtime owner and manager of the Vogue nightclub,
into personal bankruptcy. Now a judge must decide whether Ross can keep the popular Broad Ripple music venue, or if he must
sell it to satisfy his creditors and his estranged wife.
Related-party loans pile up at Durham-owned finance firm
Indianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
Debt collectors try soft approach
Recession forces entrepreneurs to rework bills. Cracking down on small businesses doesn’t help bills get paid faster.
Accuride warns of bankruptcy, reports loss
Evansville-based truck parts maker Accuride Corp., one of the state’s largest companies, warned
today in its quarterly financial report that the company might seek bankruptcy protection if lenders refuse to restructure
its debt.
Real estate exec with lavish lifestyle accused of $160M fraud
A high-flying Carmel businessman who moved his base of operations to Miami a couple of years ago is accused of burning through
$160 million of investors’ money in the collapse of his real estate empire.
$1.7M invested in failed firm not authorized, sources say
Trade groups that host the Indianapolis Auto Show and represent 600 car dealers in the Legislature stand to lose $1.7 million they loaned to a local debt-collection agency–loans that sources said were made without the knowledge of the groups’ boards or membership.