As Its Creditors Close In, `Aina Le`a Files for Bankruptcy Court Protection

posted in: July 2017 | 0

For `Aina Le`a, Inc., the prospect that it will be able to carry out its planned development on 1,000-plus acres in South Kohala is growing ever dimmer, with the company facing multiple foreclosure actions, potential downzoning of its property by Hawai`i County, and with a major shareholder (DW `Aina Le`a Development, LLC) recently losing its federal court case seeking $200 million in damages.

In light of the mounting claims by creditors and with little prospect of receiving a windfall judgment in federal court, `Aina Le`a ducked for cover. On June 22, it filed for . . .

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