5,226 Acre West Hilo Tree Farm to Be Auctioned Off

Arlie & Company hasn’t been able to sell their Hilo property for quite some time and now it looks like it’s going to be auctioned off:

Arlie & Co. has filed a plan for reorganizing its finances and getting out of bankruptcy that includes auctioning some land in Hawaii, selling other Lane County property, returning the title to a property it bought on Chad Drive, and whittling the secured debt the company owes to Bank of America…

…Its reorganization plan — filed late Monday in U.S. Bankruptcy Court — proposes auctioning off its 5,226-acre West Hilo Tree Farm to raise cash to fund its Chapter 11 bankruptcy reorganization. The company also says it will turn back the title to the former U.S. Bureau of Land Management headquarters on Chad Drive, which the company bought for $5.1 million two years ago from a half-dozen individual investors…

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