Home > Indian Gaming

Company that owes $10.4M to gaming tribes files for bankruptcy


Filed Under: Business Deals | Litigation
More on: ho-chunk, mille lacs, minnesota, pennsylvania, tribal courts, wisconsin
   
A non-Indian cash management company that owes $10.4 million to tribes has filed for bankruptcy protections in federal court.

A federal judge ordered Money Centers of America of Pennsylvania to pay $5.62 million plus 10 percent annual interest to the Mille Lacs Band of Ojibwe Indians in Minnesota. The firm failed to repay the tribe for cash advances taken out by gamblers.

A similar situation unfolded at casinos owned by the Ho-Chunk Nation in Wisconsin. The tribe's court has issued a $4.78 million judgment against the company.

Both tribes are listed as the company's major creditors. Both decisions are being appealed.

Turtle Talk has posted documents from the cases, Corporate Commission of the Mille Lacs Band of Ojibwe Indians v. Money Centers of America and Ho-Chunk Nation v. Money Centers of America, Inc.

Get the Story:
PhillyDeals: Casino tech firm files bankruptcy, fights tribes (The Philadelphia Inquirer 3/24)
Money Centers of America Files for Bankruptcy (The Wall Street Journal 3/21)

Related Stories:
Firm ordered to pay $10.4M for doing business at tribal casinos (12/04)

Join the Conversation

Stay Connected

On Facebook

On Twitter

On Google+

On SoundCloud

Archive

2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004

Advertisement

Home | Arts & Entertainment | Business | Canada | Cobell Lawsuit | Education | Environment | Federal Recognition | Federal Register | Forum | Health | Humor | Indian Gaming | Indian Trust | Jack Abramoff Scandal | Jobs & Notices | Law | National | News | Opinion | Politics | Sports | Technology | World

Indianz.Com Terms of Service | Indianz.Com Privacy Policy
About Indianz.Com | Advertise on Indianz.Com

Indianz.Com is a product of Noble Savage Media, LLC and Ho-Chunk, Inc.