Plan's approval will allow Hawaii Pacific Teleport to leave bankruptcy

By Dave Segal

POSTED: 01:30 a.m. HST, May 22, 2012

~~<p>Hawaii Pacific Teleport, which transmits data through a satellite and fiber-optic cable network connecting the West Coast with hard-to-reach points in Asia, has been cleared to emerge from Chapter 11 bankruptcy.</p>
<p>Federal Bankruptcy Judge Robert Faris confirmed a reorganization plan Monday that will give the company new owners and allow Hawaii Pacific Teleport, which operates from a teleport park in Kapolei, to borrow up to $350,000 from Makawao, Maui-based 1050 Piiholo LLC. Upon emerging from bankruptcy, the loan will be converted to equity with 1050 Piiholo LLC and Hawaii Capital Holdings LLC owning 100 percent of the reorganized company. Rumson, N.J.-based Hawaii Capital Holdings, the general partner of Hawaii Pacific Teleport, is owned by Leeana Smith-Ryland of New Jersey.</p>
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Hawaii Pacific Teleport, which transmits data through a satellite and fiber-optic cable network connecting the West Coast with hard-to-reach points in Asia, has been cleared to emerge from Chapter 11 bankruptcy.

Federal Bankruptcy Judge Robert Faris confirmed a reorganization plan Monday that will give the company new owners and allow Hawaii Pacific Teleport, which operates from a teleport park in Kapolei, to borrow up to $350,000 from Makawao, Maui-based 1050 Piiholo LLC. Upon emerging from bankruptcy, the loan will be converted to equity with 1050 Piiholo LLC and Hawaii Capital Holdings LLC owning 100 percent of the reorganized company. Rumson, N.J.-based Hawaii Capital Holdings, the general partner of Hawaii Pacific Teleport, is owned by Leeana Smith-Ryland of New Jersey. Login for more...