Monday, June 22, 2009

Recent Headlines on HSF's Bankruptcy and Austal

Creditors criticize Superferry plan Hawaii Business June 19, 2009
Hawaii Superferry filed a motion in federal Bankruptcy Court last week seeking approval ... The Superferry cited a lack of liquidity and costs for insurance ...

Austal awarded $99.5 million for LLTM for second and third JHSV's June 19, 2009
Marine Log - New York, NY, USA
The LLTM procured or manufactured for construction or installation in JHSV 2 and 3 will be subsumed with their associated costs into their respective ship ...

Austal cops US $11m Hawaii hit June 20, 2009
The West Australian - Perth, Australia
Listed shipbuilder Austal will take a $US11 million ($13.85 million) hit to its 2008-09 bottom line after rescue talks with the major secured creditor of collapsed customer Hawaii Superferry broke down at the last minute...

Business briefs June 20, 2009
Honolulu Star-Bulletin - Honolulu, HI, USA
"Superferry builder writes off loans"
Australia-based Austal Ltd., whose US subsidiary built the two Hawaii Superferry ships in Mobile, Ala., said yesterday it now will write off the entire $23 ...

Austal set to take $23 million hit on Hawaii Superferries June 21, 2009
Marine Log - New York, NY, USA
Hawaii Superferry is seeking to literally abandon ship (or in this case ships). As a result shipbuilder Austal is set to take a $23 million hit. ...

Couple more blog entries to be referenced in my next post.

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