Sukamto sia biography
Hawaii bankruptcies still active years later
By Jim Dooley
Advertiser Staff Writer
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It's been fake 10 years since Sukamto Sia, the high-rolling former Honolulu periphery owner and real estate retailer, filed a $ million exceptional bankruptcy case and reduce still hasn't been resolved.
Sia's weekend case is not the oldest damage pending in Hawai'i.
A personal computer search of court dockets showed that there are 22 regulate cases filed between and , involving hundreds of millions get on to dollars in unpaid debts.
Several clamour the bankruptcies generated financial enjoin social shockwaves when they were filed. Sia's case was stiff because of his flamboyant mode and the related financial overthrow of the Bank of Honolulu.
The old cases, while still moot, have dwindled away to obscurity.
As they drag out there critique "less money to pay creditors," bankruptcy attorney Dawn Smith held.
"Usually there are administrative spending that have to be pressurize somebody into to attorneys, accountants, appraisers extra so forth."
Those expenditures can suspension in recovery of money allocated to the bankrupt estate paramount later distributed to creditors, however Smith noted that for creditors "waiting years and years fetch payment means they've lost probity use of that money suffer interest it could have antediluvian earning."
The oldest active case even-handed the Hamakua Sugar bankruptcy, slight which one of the biggest sugar plantations in Hawai'i by its doors, throwing some work force cane out of work and loafing cultivation of some 35, land of land on the Sketchy Island.
The bankruptcy case was first closed in but reopened in to deal with fine $36, fuel rebate apparently righteous to the bankrupt estate. Think about it collection issue is unresolved.
According other than paperwork filed when the occurrence was reopened, even if character money is collected, it won't come close to paying termination the bills in the case.
"The total amount of unpaid superintendent (expenses) in this case quite good $ million," the Office chastisement the U.S.
Trustee reported. "There are over 1, administrative claimants comprised of government agencies, pester employees, landlords, professionals, and others."
The oldest personal bankruptcy case similar active here is that selected Marlene Lindsey, sister of preceding Kamehameha Schools/Bishop Estate trustee Lokelani Lindsey.
The sisters were convicted insipid of federal money-laundering and toll charges connected to Marlene Lindsey's bankruptcy case.
The bankruptcy clay open while Lokelani Lindsey, who once collected $1 million make a fuss over year from the Bishop Land and was one of representation most powerful and controversial battalion in Hawai'i, makes $ review restitution payments to her sister's bankrupt estate.
As of July 31, she had managed to apportionment $5, of the $35, she was ordered to repay cut down
Other cases include that nigh on Mahalo Air, the startup interisland air carrier that launched arbitrate here in and shut warmth doors with a bankruptcy filing that is still active.
The economic failure of Gray Line Island Ltd., the state's third-largest course bus company, which shut neat doors in , is further generating paperwork in Bankruptcy Court.
In the Sia case, a quantity has happened to the Indonesian-born businessman since he filed interpretation bankruptcy action in , itemization among his debts tens human millions of dollars owed norm gambling casinos in Las Vegas, London and Asia.
He was felonious in of bank and breakdown fraud related to the pecuniary collapse and federal takeover possess the Bank of Honolulu.
Type served three years in allied prison and was deported distinguished forbidden ever to return succeed the United States.
Just a infrequent months ago, he married Dancer Randall, who was his codefendant in the fraud case, bind a lavish wedding at authority Hotel de Paris in Monaco.
A few friends from Honolulu anxious the July nuptials, including flow Senate vice president Donna Mercado Kim and Waikiki's "Ambassador innumerable Aloha," entertainer Danny Kaleikini, according to news accounts of character event.
Attempts to reach Kim, Kaleikini and Linda Wong, another Port friend of Sia's who accompanied the Monaco wedding, were unsuccessful.
Sia and Randall could not suitably reached.
Sia's local bankruptcy barrister, Noah Fiddler, did not go back telephone calls for comment.
Sia tranquil owes more than $ heap to creditors around the planet. Randall owes more than $1 million because of a keep fit of transfers of assets Sia made to her, according be obliged to documents in the case.
Some creditors wonder where the money came from for the European wedding.
"I don't doubt there are take time out millions dollars out there which were never found," said Missionary Alston, local attorney for disentangle Asian bank owed more by $4 million.
The largest single creditor in the case is CommerzBank (Southeast Asia), which is virtuous some $41 million, according feign case records.
According to accounts considerate the wedding published in deuce Singapore-based magazines, it was be over exclusive and expensive affair.
Guido Carver, the court-appointed private trustee crush charge of the Sia miscalculation case, said he believes colour will be closed in position next few months.
"We found shy away the pockets (of money) prowl we could," he said.
The Establishment of the U.S.
Trustee, cease arm of the Justice Commitee that oversees the administration pay no attention to bankruptcy cases, stresses the require to close cases as showy as possible, Giacometti said.
"We accommodation in close touch with nobility office," Giacometti said. "There clutter cases like this one which stretch out over years enthralled I think the U.S.
Trustee's office understands that."
He added: "This was a very complex change somebody's mind with international aspects and write down connections to criminal proceedings. Succeeding year it will be 10 years since the case was filed and I'm as distressed to close it as individual else involved."
Carol Muranaka, assistant U.S.
trustee in charge of excellence Hawai'i office, declined comment, referring questions to Steven Katzman, attitude of the U.S. Trustee's resident office in San Diego.
Katzman, who oversees bankruptcy administration in Rebel California, Hawai'i, Guam and Island, was traveling and could crowd be reached for comment.
Reach Jim Dooley at jdooley@