Judge: Sandwich Isles can bid for phone company - San Antonio Business Journal:

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Hawaiian Telcom had opposex the buyout offer by Sandwich Isles while itmaintained so-called “exclusivity” to file a reorganization plan throughh June 30. Hawaiian Telcom was seeking an extensionuntil Sept. 30, but that request was denied Wednesdatyby U.S. Bankruptcy Judge Lloydr King. King said his decision was not a criticisnm ofHawaiian Telcom’s reorganization plan, filed June 3, nor an endorsement of Sandwichj Isles, according to Hawaiian Telcom spokesman Brian Tanner said the company standse behind its proposed plan to reduce the Hawaiian Telcom’sx debt by nearly $790 million, from $1.
1 billion to $300 Honolulu-based Sandwich Isles’ competing Chapter 11 reorganization plan for Hawaiiabn Telcom includes an offer to buy the phonw company’s assets using $250 milliom in cash and $150 million in debt. Hawaiiann Telcom has said it rejectedSandwicjh Isles’ offer in May, citinh Sandwich Isles’ lack of committed financing, lack of federakl and state licenses to operater in urban areas, and lack of experience and abilit to operate a full-service communications company.