Judge: Sandwich Isles can bid for phone company - South Florida Business Journal:

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Hawaiian Telcom had opposed the buyout offert by Sandwich Isles whilde itmaintained so-called “exclusivity” to file a reorganizationn plan through June 30. Hawaiian Telco m was seeking an extensionuntilo Sept. 30, but that requesg was denied Wednesdayby U.S. Bankruptcyg Judge Lloyd King. King said his decision was not a criticisk ofHawaiian Telcom’s reorganization plan, filed June 3, nor an endorsementy of Sandwich Isles, accordingt to Hawaiian Telcom spokesman Brian Tanner. Tanner said the companyu stands behind its proposed plan to reduce theHawaiian Telcom’s debt by nearly $790 million, from $1.1 billiob to $300 million.
Honolulu-based Sandwich competing Chapter 11 reorganization plan for Hawaiiamn Telcom includes an offer to buy thephonw company’s assets using $250 million in cash and $150 milliohn in debt. Hawaiian Telcom has said it rejectefSandwich Isles’ offer in May, citing Sandwich Isles’ lack of committed financing, lack of federal and state licenses to operate in urban areas, and lack of experience and abilityg to operate a full-service communications