Two HDG Mansur creditors seek liquidation of the firm
A pair of creditors of troubled Indianapolis developer HDG Mansur want a federal bankruptcy court to force the firm into liquidation, claiming it has no hope of reorganizing and is using Chapter 11 as a stall tactic to fend off a $5.8 million judgment. Two affiliates of HDG Mansur, HDG Mansur Investment Services Inc. and HDGM Advisory Services LLC, filed for Chapter 11 bankruptcy protection in May. The creditors, KFH Capital Investment Co. and Kuwait Finance House Real Estate Co., on Aug. 14 asked the bankruptcy court to convert the case from a Chapter 11 reorganization to a Chapter 7 liquidation. KFH's court filing requesting liquidation mentions a criminal probe launched by the U.S. Attorney’s office. A trial has been set for Oct. 6.
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