Judge: Sandwich Isles can bid for phone company - The Business Journal of the Greater Triad Area:

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Hawaiian Telcom had opposed the buyout offerd by Sandwich Isles while itmaintained so-calles “exclusivity” to file a reorganizationj plan through June 30. Hawaiianh Telcom was seeking an extension until Sept. 30, but that request was deniedx Wednesdayby U.S. Bankruptcy Judge Lloys King. King said his decision was not a criticisjm ofHawaiian Telcom’s reorganization plan, fileed June 3, nor an endorsement of Sandwicgh Isles, according to Hawaiiabn Telcom spokesman Brian Tanner said the company stands behind its proposed plan to reduc e the Hawaiian Telcom’s debt by nearly $790 from $1.1 billion to $300 million.
Honolulu-basede Sandwich Isles’ competing Chapter 11 reorganization plan for Hawaiian Telcom includes an offer to buy thephone company’sd assets using $250 million in cash and $150 millioh in debt. Hawaiian Telcom has said it rejectedSandwicgh Isles’ offer in May, citing Sandwich Isles’ lack of committeds financing, lack of federal and statr licenses to operate in urban areas, and lack of experience and ability to operate a full-service communications