Wednesday, June 19, 2013
Conflict-beset luxury project in bankruptcy
POSTED: 01:30 a.m. HST, Mar 08, 2013
~~<p>A creditor in the controversial and incomplete $1 billion Hoku­li‘a luxury home subdivision on Hawaii island has put the project in bankruptcy with the aim to repay other debts and restart development.</p>
<p>Hokuli‘a’s developer, 1250 Oceanside Partners, was placed into Chapter 11 reorganization Thursday by a California investment firm that recently acquired the bulk of Oceanside’s debts, which total at least $685 million.</p>
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A creditor in the controversial and incomplete $1 billion Hokuli‘a luxury home subdivision on Hawaii island has put the project in bankruptcy with the aim to repay other debts and restart development.
Hokuli‘a’s developer, 1250 Oceanside Partners, was placed into Chapter 11 reorganization Thursday by a California investment firm that recently acquired the bulk of Oceanside’s debts, which total at least $685 million. Login for more...
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