Revised Aloha, Yucaipa IP Sale Deal Cuts Out Mesa

Law360, New York (November 23, 2010, 5:32 PM EST) -- The trustee overseeing Aloha Airlines Inc.'s dismantling has asked a bankruptcy judge to approve a revised agreement to sell the company's intellectual property assets to the Yucaipa Corporate Initiatives Fund now that the fund has dropped a licensing agreement with one-time rival Mesa Air Group Inc.

According to a motion filed Monday in the U.S. Bankruptcy Court for the District of Hawaii, Yucaipa has agreed to purchase Aloha's intellectual property for $1.5 million in a mixed credit bid and cash offer. The motion also says Aloha's...
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