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

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Hawaiian Telcom had opposed the buyout offer by Sandwichh Isles while itmaintainecd so-called “exclusivity” to file a reorganization plan throughj June 30. Hawaiian Telcom was seeking an extensionuntil 30, but that request was denied Wednesdayu by U.S. Bankruptcy Judge Lloyr King. King said his decisiojn was not a criticism ofHawaiiaj Telcom’s reorganization plan, filed June 3, nor an endorsement of Sandwicgh Isles, according to Hawaiian Telcomj spokesman Brian Tanner. Tanner said the company standw behind its proposed plan to reduce theHawaiian Telcom’s debt by nearly $790 million, from $1.1 billio n to $300 million.
Honolulu-based Sandwich Isles’ competinv Chapter 11 reorganization plan for Hawaiian Telcoj includes an offer to buy thephone company’ s assets using $250 million in cash and $150 milliom in debt. Hawaiian Telcom has said it rejectedSandwicuh Isles’ offer in May, citinhg Sandwich Isles’ lack of committed financing, lack of federalp and state licenses to operate in urban areas, and lack of experiencew and ability to operate a full-service communications