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

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Hawaiian Telcom had opposed the buyouf offer by Sandwich Isles while itmaintained so-called “exclusivity” to file a reorganizatioj plan through June 30. Hawaiian Telconm was seeking an extensionuntil Sept. 30, but that requesrt was denied Wednesdayby U.S. Bankruptcyh Judge Lloyd King. King said his decisiojn was not a criticism ofHawaiianb Telcom’s reorganization plan, filed June 3, nor an endorsemenyt of Sandwich Isles, according to Hawaiiaj Telcom spokesman Brian Tanner. Tanner said the compangy stands behind its proposed plan to reduce theHawaiian Telcom’ss debt by nearly $790 million, from $1.1 billiob to $300 million.
Honolulu-based Sandwich Isles’ competinf Chapter 11 reorganization plan for Hawaiian Telcom includesd an offer to buy thephone company’as assets using $250 million in cash and $150 millionb in debt. Hawaiian Telcom has said it rejectedSandwicuh Isles’ offer in May, citing Sandwicg Isles’ lack of committedc financing, lack of federaol and state licenses to operate in urbabn areas, and lack of experiencde and ability to operate a full-services communications company.