Copies of the bankruptcy filings

From MarineLog at: http://www.marinelog.com/DOCS/NEWSMMIX/2009may00310.html

You can see the Hawaii Superferry petition HERE

You can see the HSF Holding petition HERE

May 31, 2009

"Hawaii Superferry files for Chapter 11"

Hawaii Superferry and its parent company, HSF Holding Inc., filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Delaware on May 30...

One potential charterer for the Alakai and Huakai would appear to be the Pentagon. The two Joint High Speed Vessels (JHSV) in the defense budget now before Congress are of basically the same design. And in testimony to the House Armed Services Committee on May 13 Defense Secretary Robert Gates said:"to improve our intra-theater lift capacity, we will increase the charter of Joint High Speed Vessels (JHSV) from two to four until our own production program begins deliveries in 2011."

Meanwhile, Superferry has just $1 million in cash and is facing a $2.9 million principal and interest payment on one of the ferry construction loans.

The U.S. Maritime Administration guaranteed construction loans for the two catamarans on which $135.7 million of principal is outstanding while $22.9 million is outstanding on loans from Austal USA.

The Maritime Administration and Austal USA have first and second mortgages on the Superferry vessels, while the State of Hawaii has a third mortgage...

You can see the Hawaii Superferry petition HERE

You can see the HSF Holding petition HERE