Hansen & Horn - Indianapolis homebuilder

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2009-12-03

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The IndyStar has reported that Indianapolis homebuilder Hansen & Horn (website: hansenandhorn.com) has admitted to being insolvent to a creditor. The company's control will be handed over to a court-appointed receiver. Per the article:

"The company admitted to insolvency. We are very happy with the outcome. It should have happened a long time ago," said Eric Allen, attorney for C&R Concrete Contractors, which is suing Hansen & Horn for $260,000 in unpaid bills and interest.

A receiver will likely be appointed at a hearing scheduled for Dec. 10, said James Ammeen, an attorney for Hansen & Horn. "We've agreed to receivership," he said.

It seems that Hansen & Horn as been in business for over 20 years and was "one of the largest homebuilders in the Indianapolis area."

If you have any further information on this implosion, including information regarding their size (e.g. closings per year, employees), please leave a comment below or email us!

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Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.