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Article: Bankrupt Kauai shrimpfarm finds local buyerfor its remaining assets
- Article from:
- Honolulu Star - Bulletin
- Article date:
- June 12, 2005
- Author:
CopyrightCopyright Honolulu Star - Bulletin Jun 12, 2005. Provided by ProQuest LLC. (Hide copyright information)
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The chief executive of one of the state's largest charitable foundations is bidding for the assets of a bankrupt shrimp farm on Kauai. But a Louisiana-based fish-food maker who supplied feed to the farm has objected to the deal.
Kelvin Taketa, chief executive of the Hawaii Community Foundation, has surfaced as a buyer for the assets of face=+Bold; Ceatech USA Inc.face=-Bold; , which filed for bankruptcy protection in March after years of lackluster financial performance.
But face=+Bold; Burris Mill & Feed Inc.face=-Bold; of Franklinton, La., claims that Taketa's $389,000 bid is too low and questions whether Ceatech did enough to market its assets before striking a deal with Taketa's ...