Update:

INDIANAPOLIS (WISH) - More trouble tonight for Indianapolis area homebuilder Hansen and Horn. 24 Hour News 8 first broke the story of financial problems for the 30 year old company that builds homes in more than 20 subdivisions in Central Indiana. As we told you in our I-Team 8 investigation, Hansen and Horn is being sued by dozens of vendors and homeowners who claim the company owes them hundreds of thousands of dollars. Wednesday, a judge issued an order allowing Indianapolis law firm Harrison and Moberly to drop Hansen and Horn as a client. The lawsuit doesn't say why…

The homebuilder is looking for new lawyers

INDIANAPOLIS (WISH) - Little more than two weeks after an I-Team 8 investigation revealed home builder Hansen and Horn had serious financial problems the company admits it's broke. Thursday in Marion Superior Court, Ward Horn, President of Hansen and Horn Group Inc. admitted his company can no longer pay its bills…

Company accused of neglecting debts, deals

INDIANAPOLIS (WISH) - Hansen and Horn is a hometown company. For more than 30 years, it has built houses in more than 20 subdivisions in the Indianapolis and Central Indiana area. But I-Team 8 has discovered questions about the way the company has handled some customers and contractors. Plenty of people are now sorry they ever did business with the company.

Business Courier of Cincinnati

A Hamilton County magistrate has ruled in favor of a contractors group, naming Wood & Lamping attorney Henry Menninger Jr. as receiver for the troubled Kenwood Towne Place project in Sycamore Township. Magistrate Michael Bachman, announcing his decision Friday afternoon, said “Life safety issues do exist,” with the unfinished mixed-use development. The decision rejected the receiver. Bank of America, one of six banks that funded the project...... .

IndyStar.com

Salin Bank charges that the owners of the former Davis Homes committed fraud by taking money and other assets from their Indianapolis homebuilding company after it sank into insolvency last year. In a lawsuit filed last week, the Indianapolis bank says it can't fully collect on a $3 million court judgment it got against Davis Homes because its family owners wrongly removed assets from the company. Davis Homes was one of the largest homebuilders in the Indianapolis area before closing its doors in July 2008. The company blamed a weak housing market...

Chicago-based Corus Bank:

Speculation that Chicago-based Corus Bank would fail dates to at least last February. Yesterday the FDIC and the bank’s primary regulator, the Office of the Comptroller of the Currency, finally made it official [1]. Friday’s closure of Corus and the FDIC’s additional shuttering of two small community banks brings the total number of bank failures for the year to 92....

Business Courier of Cincinnati

Contractors coping with millions in unpaid Bills from Kenwood Towne Place have two new reasons to be upset with the developers who have left the $175 million office and retail center unfinished......

NARL

Rick Nirk, executive director of the National Association of Residential Construction Lenders, says members are concerned about the homebuilding industry at this time, and many of them understand the need to manage effectively and control risk.