Business/In Brief • Oct. 23, 2013
HILO – Three bids have been submitted for the bankrupt Naniloa Volcanoes Resort in Hilo, but only two of them meet qualifications.
Bankruptcy trustee David Farmer said a federal bankruptcy judge will consider a motion to sell the hotel Nov. 6, the Hawaii Tribune-Herald reported Tuesday.
The top qualifying bid will be up for consideration at the hearing, but Farmer said other bids also will be accepted. This will give other potential buyers a chance to make a better offer.
“Everybody sees the cards,” he said.
Farmer said he couldn’t discuss who submitted the bids and how much is being offered beforehand.