Judge OKs Major Sale In Aloha's Liquidation

Law360 (May 14, 2008, 12:00 AM EDT) -- In a major step towards the completion of Aloha Airlines Inc.'s Chapter 7 liquidation and a major victory for the bankruptcy trustee overseeing the case, a judge has approved the controversial sale of Aloha's most profitable unit.

Judge Lloyd King of the U.S. Bankruptcy Court for the District of Hawaii on Tuesday found that the $10.5 million sale of Aloha Air Cargo to Saltchuk Resources Inc., including a contested aspect of the deal that anticipates Saltchuk's assuming the division's executory contracts, was sound.

“Buyer's offer to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.