In the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
Simon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential global expansion with a $2 billion revolving line of credit in six currencies.
The devastating 2008 flood continues to have repercussions for victims. They are still paying off the tens of thousands of dollars they had to borrow in some cases to hang new drywall, lay down new carpeting and replace major appliances.
A lawsuit filed in Georgia against an Indianapolis firm that helps consumers settle debt is just one in a parade of complaints targeting the industry.
Small amounts of funding often ignored by larger banks.
A federal judge in Indianapolis refused to throw out wiretap evidence in the $200 million fraud trial of former Indiana businessman Tim Durham as the government outlined a case largely based on those recordings.
The Indianapolis media company is on track to have less than $75 million in debt by this summer—down from $1.6 billion before it launched the divestiture of its TV stations seven years ago.
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
A fast-growing Indianapolis bank that became one of the biggest U.S. Small Business Administration lenders in the state has returned to profitability after a harrowing stretch of massive losses from borrower defaults that nearly led to its failure.
Despite objections from unsecured creditors, a federal bankruptcy judge granted the jeweler's request to hire an outside consultant to help it seek alternative financing to repay the balance of a PNC Bank loan.
Anderson will be heavily featured in a game show that gives residents who are facing a repossession a chance to have their vehicle paid off on the spot by answering questions correctly.
Indianapolis Downs LLC, parent company of Indiana Live horserace track and casino in Shelbyville, wants lenders to grant a one-year extension of financing for the Chapter 11 reorganization that otherwise would expire in April.
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
Leading indicators for Indiana’s economy are looking up: Banks are increasing lending, real estate developers are pulling the trigger on long-shelved projects, manufacturers are expanding, and consumers are even buying big-ticket items, including automobiles.
The purchaser, The Whitesell Group of Companies, bought the assets but not the liabilities, including $5 million owed to various unsecured creditors.
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.
Central banks around the world worked Wednesday to give banks easier access to dollars, jolting stock markets and easing fears of a global credit crisis. The Dow Jones industrial average had its biggest daily gain since March 2009.
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
