If you have not heard the latest drama for new homes in Indianapolis, Hansen and Horn is officially out of money. Rumors have been swirling for months now that they were not paying their subcontractors and problems home owners have been having but now it is official. You can read the Indy Star story here but the gist is they are out of money and going into receivership which means someone else is taking over and going to try to pay off their debts.
I have to give credit to Paula Henry who runs Hometoindy.com her Indianapolis real estate website and blog for pointing this out, but take a look at this: https://secure.in.gov/sos/bus_service/online_corps/view_details.aspx?guid=19AC7BA0-EE43-473C-8C2C-E3F5749F928A
This is a separate entity with the Hansen and Horn name that was recently created. It looks like Hansen and Horn may have seen this coming and started a new corporation at the beginning of this year. We saw a similar case this past year when Davis Homes was went under and then the owner started a new Davis Building Group. Could this bankruptcy have been planned since the beginning of this year?