Judge OKs Major Sale In Aloha's Liquidation

Law360, New York (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...
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