Hawaii Superferry files for bankruptcy
HONOLULU — The company running Hawaii’s first interisland car and passenger service is filing for bankruptcy, two months after a state Supreme Court ruling effectively shut it down.
A statement from Hawaii Superferry says the expenses of maintaining its two vessels have weighed down the company because it doesn’t have any revenues.
The ferry service sought charter opportunities around the world, but those efforts haven’t produced results in time for the company to meet its financial obligations.
The Hawaii Superferry says a Chapter 11 bankruptcy filing was the unavoidable next step.
The Hawaii Supreme Court ruled March 16 that a state law allowing the company to operate while an environmental study was being conducted was unconstitutional. The court said the study needed to be completed first.