IRWIN UNION OWED $2.8 MILLION IN CONCRETE CASE

The Star’s John Ketzenberger has a column today about how Irwin Union Bank, 107 other creditors and the government may or may not be able to collect from Carmel Concrete, one of the five local concrete companies targeted in a price-fixing case last year.  The litigation now is in bankruptcy court, and the goal appears to be much like any other commercial foreclosure case – sell the loan collateral (and other assets) in order to pay the lenders (and other creditors).