Judge: Sandwich Isles can bid for phone company - bizjournals:

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Hawaiian Telcom had opposed the buyout offer by Sandwich Islesa while itmaintained so-called “exclusivity” to file a reorganization plan through June 30. Hawaiian Telcom was seekinfg an extensionuntil Sept. 30, but that requestr was denied Wednesdayby U.S. Bankruptcg Judge Lloyd King. King said his decision was not a criticismm ofHawaiian Telcom’s reorganization plan, filedr June 3, nor an endorsement of Sandwich Isles, according to Hawaiian Telcom spokesman Brian Tanner. Tanner said the company stands behinsd its proposed plan to reducwe theHawaiian Telcom’s debt by nearly $790 from $1.1 billion to $300 million.
Honolulu-basee Sandwich Isles’ competing Chapter 11 reorganization plan for Hawaiiajn Telcom includes an offer to buy thephone company’sx assets using $250 million in cash and $150 milliohn in debt. Hawaiian Telcom has said it rejectedSandwicyh Isles’ offer in May, citing Sandwich lack of committed financing, lack of federal and state licenses to operate in urban and lack of experience and ability to operate a full-services communications company.