TO ALL KNOWN CREDITORS...

On their Website:

http://www.hawaiisuperferry.com/

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

In re: HSF HOLDING, INC., et al.,1 Debtors.

Chapter 11 Case No. 09-11901 (PJW) Jointly Administered

NOTICE OF BAR DATES FOR FILING OF PROOFS OF CLAIM

TO ALL KNOWN CREDITORS OF THE FOLLOWING DEBTOR ENTITIES:

Debtor	Address	Case Number
HSF Holding, Inc.	Pier 19 Ferry Terminal, Honolulu, HI 96817	09-11901
Hawaii Superferry, Inc.	Pier 19 Ferry Terminal, Honolulu, HI 96817	09-11902

On July 20, 2009, the United States Bankruptcy Court for the District of Delaware

(the "Court") entered an order in the above-captioned chapter 11 cases (the "Bar

Date Order") establishing certain claims bar dates in the chapter 11 cases of the

above-captioned debtors and debtors in possession (collectively, the "Debtors").

By the Bar Date Order, the Court fixed August 24, 2009 at 5:00 p.m., Prevailing

Eastern Time, as the general claims bar date (the "General Bar Date") in these

cases...>>Click here to read the rest>>

Hindsight

A little look back...

Something I noticed over the past year with the sitemonitor on this is that the following two posts have consistently gotten some of the most hits of any individual posts during the life of this blog:

Sunday, December 23, 2007 HI Superferry: The Goal...JHSV
Friday, January 4, 2008 More on the Goal...JHSV

Even more interesting is that the above two posts have attracted a lot of foreign attention over the past year and a half, esp. from locations in all of the countries of the world with significant navies.

Somebody else wrote about this too as early as these posts:

Thursday, January 3, 2008 Musings: Lifting the Veil (Mentioning X-Hull and Seafighter)
Friday, January 4, 2008 Musings: KKCR Snaps and Lifting the Veil: Part II (Seafighter and LCS)
Saturday, January 5, 2008 Musings: KKCR Outed and Lifting the Veil: Part III (Seafighter and LCS)
Sunday, January 6, 2008 Musings: Lifting the Veil: Part IV (Seafighter and X-Craft)
Wednesday, January 9, 2008 Musings: Lifting the Veil: Part V (LCS)
Tuesday, January 15, 2008 Musings: Lifting the Veil: Part VI (Seafighter, LCS, and JHSV)
Wednesday, January 16, 2008 Musings: Lifting the Veil: Part VII (All Pau) (JHSV and Seafighter LCS)
Wednesday, January 16, 2008 U.S.S. Superferry? (Article Summary)

The Seafighter ended up being a non-issue. That source from San Diego seemed to have been astray for one reason or another.

There have been other bloggers and bookwriters who have tried to assign credit for who wrote about this first. And who wrote about it most accurately. I think the record speaks for itself.

Oh, and by the way, no writer anywhere yet has shown how JFL benefits from Austal getting the JHSV or LCS contracts. There may be a way in which JFL benefits, but it has not been shown publicly by any writer. None, zero, zip, nada.

Now there's a real mystery for you...maybe the biggest mystery of all in this story, and none of the professionally trained journalists have figured it out.

Navy and Army Name First Three Joint High Speed Vessels

U.S. Department of Defense Office of the Assistant Secretary of Defense (Public Affairs) News Release

On the Web: http://www.defenselink.mil/releases/release.aspx?releaseid=12823 Public contact: http://www.defenselink.mil/faq/comment.html

IMMEDIATE RELEASE No. 522-09 July 16, 2009

Navy and Army Name First Three Joint High Speed Vessels Secretary of the Navy Ray Mabus and Secretary of the Army Pete Geren today announced the names of the first three Joint High Speed Vessels as Fortitude (JHSV 1), Vigilant (JHSV 2) and Spearhead (JHSV 3). A cooperative effort between the Navy and the Army, JHSVs will be used for fast intra-theater transportation of troops, vehicles and equipment. The program highlights a Department of Defense acquisition objective of leveraging the expertise of one military branch to assist another. The Army is procuring Fortitude and Spearhead, while the Navy is procuring Vigilant, and each service will be responsible for operating and maintaining its ships following delivery. JHSVs will be capable of transporting 700 short tons 1,200 nautical miles at an average speed of 35 knots, and can operate in shallow-draft ports and waterways, interfacing with roll-on/roll-off discharge facilities, and on/off-loading a combat-loaded Abrams Main Battle Tank (M1A2). Other joint requirements include an aviation flight deck to support day and night air vehicle launch and recovery operations. JHSVs will have airline style seating for 312 embarked forces and fixed berthing for 104 more. Joint military combatant commanders will have the flexibility to use JHSVs in a variety of roles to include supporting overseas contingency operations, special operations forces, humanitarian assistance and disaster relief, and emerging joint sea basing concepts. Constructed by Austal USA in Mobile, Ala., the detail, design and construction contract covers 10 ships, five for the Army and five for the Navy. Long lead time material options for the first three ships have already been exercised. Construction on the first JHSV will begin following a successful Production Readiness Review (PRR), currently scheduled for fall 2009. The JHSV PRR will be a review of design maturity, availability of materials and components, and the shipbuilder's readiness to successfully start fabrication. Interested media may contact the Navy Office of Information at 703-697-5342. Additional information on JHSV is available online at http://peoships.crane.navy.mil/JHSV/default.htm .

Former Hawaii Superferry vessels headed to Virginia

From: http://blog.al.com/press-register-business/2009/07/hawaii_superferry_vessels_head.html#preview

"Mobile-built Hawaii Superferry vessels headed to Norfolk"
Posted by Kaija Wilkinson, Press-Register July 15, 2009

A pair of fast ferries built locally for Hawaii Superferry Inc. are being moved from Mobile to a Norfolk, Va., shipyard by the bankrupt company's main creditor, the U.S. Maritime Administration, MARAD said today.

Alakai, the first vessel to be built and delivered to Hawaii Superferry by Mobile's Austal USA, arrived at Lambert's Point Docks Inc. on Tuesday, while its sister ship, Huakai, is scheduled to leave late this week and arrive in Norfolk the middle of next week, according to Susan Clark, MARAD spokeswoman.

They had been moored at Mobile's Atlantic Marine shipyard, which is owned by former U.S. Navy Secretary John Lehman. Lehman was until May the primary investor in the Hawaii Superferry venture.

Hawaii Superferry filed for Chapter 11 reorganization in late May. Its ferry construction was financed in large part through a federal program designed to help shipyards diversify. Clark said MARAD has been granted "physical custody" of the vessels but does not yet hold the titles. The administration said last month that it plans to repossess and sell the vessels.

Hawaii Superferry owes MARAD $136.8 million, according to court records. Austal, which built both ferries under a $190 million contract, is owed another $22.9 million, the record shows.

Before talks among MARAD, Austal and Hawaii Superferry fell apart in June, analysts had expected the vessels to be retrofitted by Austal and chartered directly to the military.

Clark said MARAD is now weighing all its options for the ferries, which include sale or charter...>>See rest of article here>>

Tags: Ala., Austal, Hawaii Superferry, John Lehman, Lambert's Point Docks, MARAD, Mobile, Susan Clark

Ferry Curious

Second time's a charm, and in the Honolulu Weekly this time. With this second letter to the editor on the subject maybe now Sally will get answers to some of her questions:

From: http://honoluluweekly.com/letters/2009/07/ferry-curious/

"Ferry curious"

Jul 15, 2009

The Department of Transportation prepared a draft Environmental Impact Statement for the Superferry that was released in January. Has the final EIS been completed? The title was for a “statewide large capacity ferry.” This was meant to continue the fiction that Act 2 exempting the Superferry from environmental review was passed by the legislature as a general law, not a particular law to benefit the Superferry. So I presume that the state would complete the EIS, to continue the fiction. Has it been completed?

I would like to know if they dropped it when the Superferry went out of business. I would also like to know how much the state spent on the EIS, besides the $40 million on harbor improvements.

I am so glad they didn’t go ahead with state plans to build a ferry terminal for the Superferry on the Kahului Harbor breakwater. That plan would really have been expensive. Probably just the plans were expensive.

What has happened to John Lehman, former chairman of the Superferry? What happened to his investment firm? Did the Superferry bankruptcy cost him any money personally? Or were the only losers small investors, vendors, and the Superferry employees?

Sally Raisbeck, Wailuku

Guggenheim Corp. Funding Seeks Dismissal of HSF Holding Bankruptcy

From: http://www.netdocketsblog.com/2009/07/guggenheim-corp-funding-seeks-dismissal.html

Thursday, July 9, 2009

Guggenheim Corp. Funding Seeks Dismissal of HSF Holding Bankruptcy

On Wednesday, Guggenheim Corporate Funding, LLC filed a motion seeking the dismissal of the chapter 11 bankruptcy case of HSF Holding, Inc. HSF Holding, Inc. is the parent holding company of Hawaii Superferry, Inc., which operated a high-speed ferry business between the Hawaiian Islands before filing for bankruptcy and abandoning its ferries. Guggenheim does not seek dismissal of Hawaii Superferry, Inc.'s bankruptcy case.

Guggenheim holds a security interest in all of HSF Holding's assets, which consist solely of the stock of Hawaii Superferry, Inc., as a result of providing $47.75 million in senior secured funding in 2007. Guggenheim also holds $7.5 million in an escrow account, which is the subject of a joint stay relief motion of HSF and Guggenheim scheduled to be heard on July 20, 2009.

In support of its motion, Guggenheim argues that cause for dismissal exists because there is "a lack of good faith purpose" for HSF Holding's bankruptcy case. In furtherance of that argument, Guggenheim points to seven factors:

1. The only asset in HSF Holding's case is the Hawaii Superferry stock that is subject to Guggenheim's lien.
2. Guggenheim "appears to be the only creditor" of HSF Holding.
3. HSF Holding has no on-going business or employees.
4. HSF Holding's chapter 11 petition was filed "on eve of Guggenheim terminating the escrow account and retaining such funds."
5. The only parties-in-interest in HSF Holding's case are Guggenheim and HSF.
6. HSF Holding has no cash or income.
7. HSF Holding has no possibility of reorganization because it has no business to reorganize.

Download copies of every document filed in this case and the bankruptcy cases of over 600 other major corporations using netDockets. Sign up now for a free trial account and $100 of free research.

Posted by Randall Reese

Alabama...All In...Hook, line, and 'sinkher'

From: http://www.professionalmariner.com/ME2/dirmod.asp?sid=&nm=&type=news&mod=News&mid=9A02E3B96F2A415ABC72CB5F516B4C10&tier=3&nid=E49935CBCF3F4112BCF2B28D062FB2EE

"Alabama to build $9M maritime workforce training center"

Mobile shipbuilding facility to teach 700 workers annually

(6/30/2009)

(MOBILE, Ala.) -- Alabama's governor attended a ceremony formally announcing a $9.4 million maritime workforce training center in Mobile, the television station WALA reported. The taxpayer-funded Maritime Science Center will train 700 a year in shipbuilding trades. It is scheduled to open next year. Click here to view the TV station's story.

Winding down...Questions about the EIS

Not much to post here anymore. I still have the "webbots" going on this, but even they don't send back much info to me anymore. But, received an interesting letter to the editor cc'd to me recently. Here was my reply to that letter below:

Sally,

Good to hear from you again. About the EIS. As far as I know DOT put it on temporary hold after the Supreme Court decision, but that was before the bankruptcy. As far as I know DOT has not publicly said anything about the EIS since the bankruptcy proceedings began. The situation may have changed given those recent bankruptcy proceedings and as to the "need" for an interisland ferry and relative to the state budget problems.

As for your last question, "And what has happened to John Lehman, former chairman of the Superferry, and his investment firm? Did the Superferry bankruptcy cost him any money personally? Or were the only losers small investors, vendors, and the Superferry employees?":

JFL and Co is still in business. Their lawyer recently said in bankruptcy court after the abandoning of the vessels was allowed that JFL and Co lost all of their $85 million invested in HSF. All of the common stockholders and preferred stockholders are expected to lose any money they invested or expected value accrued in it. It still remains in question who buys or leases the two vessels and for how much. These vessels may be sold at loan value which would be a discount. A previous loser in this could actually end up making money if they acquire the vessels at discount and use them in the right situation. The right situation calls for either military use or one-way commercial routes of 70 miles or less between significant population/commercial centers.

Brad

-------- Original Message --------

Subject:	What is the status of the Superferry EIS?
Date:	Mon, 06 Jul 2009
From:	Sally Raisbeck
To:	Maui News (letters@mauinews.com)

What is the status of the Superferry EIS?

The DOT prepared a draft EIS for the Superferry that was released in January. Has that been completed? The title was for a "statewide large capacity ferry". This was meant to continue the fiction that Act 2 exempting the Superferry from environmental review was passed by the legislature as a general law, not a particular law to benefit the Superferry. So I presume that the state would complete the EIS, to continue the fiction. Has it been completed?

I would like to know if they dropped it when the Superferry went out of business. I would also like to know how much the state spent on the EIS, besides the $40 million on harbor improvements.

I am so glad they didn't go ahead with state plans to build a ferry terminal for the Superferry on the Kahului Harbor breakwater. That plan would really have been expensive. Probably the plans were expensive.

The company that built the Superferry got the Joint High Speed Vessel (JHSV) contract for 10 military versions of the Superferry last November. Does the Maui News know? The company was Austal Ltd. And what has happened to John Lehman, former chairman of the Superferry, and his investment firm? Did the Superferry bankruptcy cost him any money personally? Or were the only losers small investors, vendors, and the Superferry employees?

Surely someone on Maui knows some of these interesting economic facts.

Sally Raisbeck
Wailuku HI

What to do with the 'Superferry' ramps?

From a reader:

My 11 year old son has a great idea - tow the HSF barges out to sea. Get a re-circ pump (ram or solar of course) and boogie boards. Open the ramps up as an on-the-water water park. You seen the one in Kalapaki, yeah? Either that or a skate park....Could be fun.

Hope Kallai

Judge Walsh: HSF can abandon and case stays in Delaware

From: http://www.honoluluadvertiser.com/article/20090701/BREAKING01/90701023/-1/RSS01?source=rss_breaking

Wednesday, July 1, 2009
"Bulk of Superferry bankruptcy case will remain on Mainland, judge rules"
Bloomberg News

WILMINGTON, Del. — A bankruptcy judge today ruled that Hawaii Superferry can abandon its two catamarans to lenders owed $158.8 million for their construction and that the bulk of the bankruptcy case will remain in Delaware.

..."We're not going to be returning back to the state of Hawaii now that the estate has abandoned the ships," company attorney Leon Barson told Walsh today during a hearing in Wilmington, Del., where Hawaii Superferry filed for bankruptcy on May 30.

Walsh also ruled that the main part of the bankruptcy case would stay in Delaware. Only claims filed by the state of Hawaii related to its contract with Superferry will be transferred to the federal bankruptcy court in Hawaii, Walsh said.

...The company was operating one ferry since August 2007. The second was delivered in April.

...Guggenheim is owed $51.7 million on notes where the company says there is a $7.5 million fund for paying interest.