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STATE ATTORNEY GENERAL TO INTERVENE
By admin | March 30, 2008
Edit: Today (3/31/08) Judge ruled that court has no authority to prevent shutdown.
Federal Bankruptcy Court Judge for the district of Hawaii, Lloyd King said that if Aloha Airlines’ Owners (Yucaipa, LLC a.ka. Yucaipa American Fund, Yucaipa Fund) believe in good faith that shutting Aloha Airlines down with only two days notice to its union employees, and without providing any financial evidence to the unsecured creditors committee, to the creditors, or to the other parties, then it could do so. The Sunday notice of the shutdown seemed to be timed more to have operations cease before April first, than to have anything to do with the lack of buyers. . .
Click here to read: State’s Objection to Aloha’s Motion to Cease Operations
Topics: Aloha employees, Bankruptcy Court, Governor Linda Lingle, Yucaipa |
March 31st, 2008 at 2:31 am
Thanks for that info…since we are still clinging on for a little hope of not closing down tomorrow and be assured that I will there for the rally…