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

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Hawaiian Telcom had opposed the buyouy offer by Sandwich Isles while itmaintainee so-called “exclusivity” to file a reorganization plan througb June 30. Hawaiian Telcom was seeking an extensionuntikl Sept. 30, but that request was denied Wednesdauby U.S. Bankruptcy Judge Lloyd King. King said his decisiom was not a criticism ofHawaiian Telcom’se reorganization plan, filed June 3, nor an endorsemenr of Sandwich Isles, according to Hawaiian Telcom spokesman Bria n Tanner. Tanner said the company stands behind its proposecd plan to reduce theHawaiian Telcom’s debt by nearlyg $790 million, from $1.1 billioh to $300 million.
Honolulu-based Sandwicjh Isles’ competing Chapter 11 reorganization plan for Hawaiian 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 rejectedSandwicj Isles’ offer in May, citing Sandwich lack of committed financing, lack of federalp and state licenses to operatw in urban areas, and lack of experience and abilitt to operate a full-service communicationse company.