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Hawaii Launches Business Monitoring Website
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Lava creeps within mile of Hawaii shopping center
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HONOLULU (AP) ? Lava from an active volcano on Hawaii's Big Island slowed slightly but stayed on track to hit a shopping center in the small town of Pahoa.

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Hawaii County Council decides to appeal GMO ruling
KAILUA-KONA, Hawaii (AP) - The Hawaii County plans to appeal a federal judge's ruling invalidating a county law restricting genetically modified crops on the island. The county council voted 5-4 to appeal the ruling, West Hawaii Today reported Thursday (http://bit.ly/1Gw9zuS ). Kohala Councilwoman Margaret Wille, who authored ...

Hawaii movie fans respond to decision to pull 'The Interview'
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Hawaii Council votes to appeal ruling striking down GMO law
Hawaii County plans to appeal a federal judge's ruling invalidating a county law restricting genetically modified crops on the island. The County Council voted 5-4 to appeal the ruling, West Hawaii Today reported Thursday.

Hawaii envisions presidential library on the beach
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'Nut rage' gives Hawaii macadamia nuts a boost
A Korean Air Lines executive's tantrum over bagged nuts in a first-class cabin is drawing enough attention to give Hawaii's $38 million macadamia nut industry a boost. Cho Hyun-ah, an airline vice president ...

Wednesday, March 10, 2010

Celebrity Resort Files for Chapter 11 Bankruptcy Protection

March 09, 2010

Celebrity Resorts LLC and its affiliates have filed for Chapter 11 bankruptcy protection, listing tens of millions in estimated liabilities.

The Orlando-based time-share company listed just two unsecured creditors, International Escrow Services of Atlanta and Resort Condominiums International of Carmel, Ind. But about three dozen other filings, including Celebrity Resorts of Orlando LLC and Celebrity Resorts of Lake Buena Vista LLC, listed pages of additional creditors.

In the bankruptcy filings, the company's chief executive officer, Jared Myers, said he is owed $680,812 in unpaid compensation. A lawyer for the company could not be immediately reached for comment.

Celebrity Resorts began showing signs of distress as early as July 2008, when it announced it was cutting an unspecified number of jobs and eliminating an area of its marketing business that was unprofitable.

According to the time-share company's Web site, Celebrity Resorts has properties in 13 locations across the U.S. The company was formerly known as Resort World, a family-owned business that started selling time shares in the Caribbean in the 1970s and then in the Orlando area in the 1980s.

In August 2008, Celebrity purchased Quintus' interest at Hanalei Bay Resort in Kauai. Condo and timeshare owners at Hanalei Bay Resort soon became unhappy with Celebrity's management and began trying to oust them. Owners were sucussful in removing Celebrity as manager late last year by buying out their contract. Terms of that contract are undisclosed.

Celebrity still owns the restaurant and lounge at Hanalei Bay Resort.

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