Saturday, May 30, 2009

Superferry Files for Bankruptcy

 
Hawaii Superferry Inc., which provided high-speed ferry service for cars
and passengers between Hawaii's Oahu and Maui islands, filed
 for bankruptcy protection today.

Hawaii Superferry and parent HSF Holding Inc. filed Chapter 11 bankruptcy
petitions in Wilmington, Delaware. They cited a Hawaii Supreme Court ruling
in March that struck down a state law permitting the company to operate
before completing an environmental impact statement.

The company, which reported more than $100 million in assets and debts
in its bankruptcy petition, said it will use the bankruptcy to shut down its business
and liquidate the company.

The case is: In re HSF Holding Inc., No. 09-11901, U.S. Bankruptcy Court,
District of Delaware (Wilmington).

HONOLULU  ADVERTISER
Updated at 2:46 p.m., Saturday, May 30, 2009

Hawaii Superferry files for bankruptcy

By Bob Van Voris     Bloomberg News Service

Hawaii Superferry Inc., which provided high-speed ferry service for cars
and passengers between
Oahu and Maui, filed for bankruptcy protection today.
 
Hawaii Superferry and parent HSF Holding Inc. filed Chapter 11 bankruptcy petitions in
Wilmington, Del. They cited a Hawaii Supreme Court ruling in March that struck down
a state law permitting the company to operate before completing an environmental
impact statement.
 
Tom Fargo, Hawaii Superferry's president and chief executive officer, said
in a statement at the time that completing an environmental impact statement could
take a year. As a result of the decision, ferry service was immediately shut down
and the company's two high-speed ferries docked in Mobile, Alabama.
 
The company, which reported more than $100 million in assets and debts in its
bankruptcy petition, said it will use the bankruptcy to close its business completely
and liquidate the operation.  Hawaii Superferry was formed in 2002 to provide
high-speed ferry service among the four main Hawaiian islands of Oahu, Maui,
Hawaii and Kauai. The company began carrying passengers in August 2007 on
the Alakai, an aluminum-hulled catamaran that carried as many as 866 people and
282 cars, according to court papers in the bankruptcy case.
 
The law struck down by the Hawaii Supreme Court was enacted in November 2007
to permit the ferry to keep operating despite a series of successful state court legal
challenges, Hawaii Superferry said in a court filing. The high court ruled that the
law was intended specifically to benefit the company, in violation of the state constitution.
 
In addition to the court decision, Hawaii Superferry said its business was hurt by
a decline in tourism, a 2008 increase in fuel prices and a price war between airlines
that provided inter-island service in Hawaii.


--
John Tyler, owner.
www.happyswimmers.com for swim lessons an private lifeguard services for pool parties

Learn CPR fun and easy for your family: Click to watch our informative 3 min intro video: why is CPR so vitally important?
http://www.youtube.com/watch?v=Fban7dx-AUM

POSITIVE QUOTES OF THE DAY
In every person who comes near you look for what is good and strong; honor that; try to imitate it, and your faults will drop off like dead leaves when their time comes.
John Ruskin (1819-1900) English Art Critic
-----------------------------
Practice thinking about as many people as you can:  "I love you, and want the best for you." and watch tensions dissolve, and all relationships blossom new gifts.

Wednesday, May 13, 2009

SUPERFERRY CASE:: "IT IS HEREBY ORDERED that the motion for reconsideration is DENIED"



---------- Forwarded message ----------
From: Dick Mayer <dickmayer@earthlink.net>
Date: Wed, May 13, 2009 at 6:10 PM
Subject: SUPERFERRY CASE:: "IT IS HEREBY ORDERED that the motion for reconsideration is DENIED"
To: Dick Mayer <dickmayer@earthlink.net>


The Supreme Court has denied the Department of Transportation's motion
and the request by the legislature to reconsider their earlier decision that
ACT 2 was unconstitutional.  The original decision stands.

 
----- Original Message -----
Sent: Wednesday, May 13, 2009 4:50 PM
Subject: "IT IS HEREBY ORDERED that the motion for reconsideration is DENIED"

Wednesday, May 13, 2009

"IT IS HEREBY ORDERED that the motion for reconsideration is DENIED"

Here is the Decision on the Motion for Reconsideration:
http://www.state.hi.us/jud/opinions/sct/2009/29035recond.pdf

Here is the Order of Amendment on the original Opinion of March 16, 2009: http://www.state.hi.us/jud/opinions/sct/2009/29035am.pdf

Here is the Amended Opinion of the Majority of the Court from March 16, 2009: http://www.state.hi.us/jud/opinions/sct/2009/29035opam.pdf

Here is the Concurring and Dissenting Opinion of the minority from March 16, 2009:
http://www.state.hi.us/jud/opinions/sct/2009/29035conam.pdf

You can read them all or just read the title here to get the point. This is done...for now.




--
John Tyler, owner.
www.happyswimmers.com for swim lessons an private lifeguard services for pool parties

Learn CPR fun and easy for your family: Click to watch our informative 3 min intro video: why is CPR so vitally important?
http://www.youtube.com/watch?v=Fban7dx-AUM

POSITIVE QUOTES OF THE DAY
In every person who comes near you look for what is good and strong; honor that; try to imitate it, and your faults will drop off like dead leaves when their time comes.
John Ruskin (1819-1900) English Art Critic
-----------------------------
Practice thinking about as many people as you can:  "I love you, and want the best for you." and watch tensions dissolve, and all relationships blossom new gifts.