Government to repossess Hawaii Superferry boats built at Austal - al.com

Government to repossess Hawaii Superferry boats built at Austal - al.com: "The U.S. Maritime Administration says that it plans to repossess and sell a pair of fast ferries built at Austal USA for Hawaii Superferry Inc.

Hawaii Superferry owes $136.8 million to the agency — commonly known as MARAD — which guaranteed the loans used to buy the ferries. It has another $22.9 million outstanding on a pair of loans from Austal.

MARAD reported this week that it plans to take possession of the ferries, now docked at Atlantic Marine in Mobile, as soon as it receives approval from bankruptcy court in Delaware. Hawaii Superferry Inc. filed for Chapter 11 reorganization in that state May 30."