Old National Bank has sued local developer Paul Kite, alleging he and his company, PK IND Partners LLC, owe millions of dollars for a loan tied to the 2008 redevelopment of property at Indianapolis International Airport.
A northern Indiana trial court erred in ordering the city of Plymouth to enforce a mediation settlement agreement to pay a contractor $130,000 because terms of the agreement had not been fulfilled, an appellate panel ruled Wednesday.
Local developer Ambrose Property Group has leveled new allegations against the city of Indianapolis in a lawsuit it filed Tuesday in the ongoing fight over the company’s decision not to develop the former GM stamping plant site on the western edge of downtown.
Three new lawsuits have been filed against one of the co-founders of floundering Indianapolis residential development firm Litz & Eaton — including one suit that could tee up a legal fight with his former business partner.
Ambrose Property Group on Tuesday filed a notice of tort claim with the city of Indianapolis, a legal step that sets the stage for it to sue the city over its effort to force the developer to sell it the former General Motors stamping plant site west of downtown.
The city of Indianapolis told Ambrose Property Group on Wednesday that it will use eminent domain if necessary to take ownership of the GM stamping plant property Ambrose had planned to turn into a $1.4 billion, mixed-use development called Waterside “to ensure necessary redevelopment” still occurs there.
The state of some World War II-era homes has given rise to a contentious property rights dispute between the Charlestown city administration and residents of the city’s Pleasant Ridge neighborhood.