Medical Office Developer Files for Bankruptcy
INDIANAPOLIS — The developer of an unfinished medical office complex filed for Chapter 11 Bankruptcy protection, four years after its main lender also filed for bankruptcy.
Binford Medical Developers, based in Indianapolis, filed Chapter 11 reorganization earlier this month on an $8.5 million, 47,000-square-foot unfinished project in the city. The decision to file for bankruptcy protection was done in hopes of preventing a forced sale to collect unpaid taxes and to resume construction on the 17-acre property, according to the company.
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