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Article: Shrimp farm on Kauai gets reprieve from court
- Article from:
- Honolulu Star - Bulletin
- Article date:
- June 21, 2005
- Author:
CopyrightCopyright Honolulu Star - Bulletin Jun 21, 2005. Provided by ProQuest LLC. (Hide copyright information)
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face=+2; The operation's owner gets permission to sell its assets to an Oahu firmface=-2;
A financially troubled shrimp farm on Kauai was given a second chance yesterday when a federal bankruptcy judge ruled that the farm's bankrupt owner, face=+Bold; Ceatech USA Inc.face=-Bold; , could sell its assets to an outside investor.
U.S. Bankruptcy Judge Robert Faris' ruling allows Ceatech to sell the farm to face=+Bold; Sunrise Capital LLCface=-Bold; of Honolulu.
Ceatech operates the farm on land leased from the state in the Kekaha Agriculture Park. Since Ceatech filed for bankruptcy protection from creditors in March, the company has limped along with a small crew doing little more than ...