Hawaii Superferry goes bankrupt - Surfer's Path

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Hawaii Superferry goes bankrupt

The now bankrupt Superferry was deemed an ecological and cultural hazard by many in the islands. Photo: ABC.

Hawaiian cultural and environmental activists will be pleased. This news just came in from Bloomberg News via the Honloulu Advertiser:

“Hawaii Superferry Inc., which provided high-speed ferry service for cars and passengers between Oahu and Maui, filed for bankruptcy protection today.

Hawaii Superferry and parent HSF Holding Inc. filed Chapter 11 bankruptcy petitions in Wilmington, Del. They cited a Hawaii Supreme Court ruling in March that struck down a state law permitting the company to operate before completing an environmental impact statement.

Tom Fargo, Hawaii Superferry’s president and chief executive officer, said in a statement at the time that completing an environmental impact statement could take a year. As a result of the decision, ferry service was immediately shut down and the company’s two high-speed ferries docked in Mobile, Alabama.

The company, which reported more than $100 million in assets and debts in its bankruptcy petition, said it will use the bankruptcy to close its business completely and liquidate the operation.

Read the full story here: http://www.honoluluadvertiser.com/article/20090530/BREAKING01/90530039

Hawaiian activists have fought hard to stop this, against the might of the political-military-industrial nexus in Hawaii. At the height of the George W Bush the powerful Hawaiian governor Linda Lingle and her Republican allies tried to steamroll this project through without an environmental impact assessment and many locals objected. A number of them were arrested during protests and harassed after local corporate-owned media whipped up a frenzy of anti-protester outrage. The Surfer’s Path even fell victim to this political witch-hunt when shadowy Republican figures trried to get us labelled a “terrorist organization” when we published a message from one of the protest leaders that admitted some protesters may die in the cause of defending their beliefs (ie when they paddled out to block the Superferry’s arrival in Kauai). Protesters and the magazine endured hate mail and letters from right-leaning lawyers attempting to scare anyone who appeared to oppose this project. Thankfully the protests continued (and we continued to publish). It seems the delays caused by all this protest have finally crippled the Superferry company. Congratulations to all those who got involved in actively objecting to this crazy plan!

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