M Waikiki offers plan for recovery

Bankrupt M Waikiki LLC, owner of the Modern Honolulu, filed a proposed reorganization plan late Friday that provides full repayment to local hotel creditors. William Brewer, lead counsel for M Waikiki, said Saturday that performance of the Modern Honolulu has turned around during bankruptcy and that he expects the reorganization plan to be confirmed within 60 days, clearing a path for recovery.

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