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WAILUKU, Hawaii (AP) — A federal bankruptcy judge has dismissed a petition from a couple who have a Maui mortgage brokerage firm to file for Chapter 11 bankruptcy protection.
Kathleen Patricia Morris and David Duffy Herman may owe up to $10 million to creditors. They were seeking bankruptcy protection to reorganize their business, Kihei-based Hawaii's Premiere Mortgage Co.
Maui bankruptcy and immigration attorney Richard Berman told the Maui News that the judge's ruling on Tuesday clears the way for creditors to take legal action to obtain their money.
The couple said in a statement to the Maui News that they intend to repay as many people as they can. The couple's debts include unpaid mortgages and loans against more than two dozen properties in Hawaii and Idaho.