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

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Hawaiian Telcom had opposed the buyour offer by Sandwich Islew while itmaintained so-called “exclusivity” to file a reorganization plan through June 30. Hawaiian Telcom was seekin g an extensionuntil Sept. 30, but that request was deniedc Wednesdayby U.S. Bankruptcy Judge Lloyd King said his decision was not a criticismk ofHawaiian Telcom’s reorganization plan, filef June 3, nor an endorsement of Sandwich according to Hawaiian Telcom spokesman Briam Tanner. Tanner said the company stands behind its proposed plan to reducr theHawaiian Telcom’s debt by nearly $790 million, from $1.1 billionm to $300 million.
Honolulu-based Sandwich Isles’ competinh Chapter 11 reorganization plan for Hawaiian Telcom includes an offer to buy thephones company’s assets using $250 million in cash and $150 million in debt. Hawaiian Telcom has said it rejectedSandwicu Isles’ offer in May, citingy Sandwich Isles’ lack of committed financing, lack of federal and state licenses to operate in urban and lack of experience and ability to operater a full-service communications company.