Order Approving Appointment of Trustee

November 4, 2010

November 18, 2010

The Bankruptcy Court entered the order approving the appointment of Shults & Tamm, ALC, as Litigation Trustee

October 28, 2010

November 18, 2010

On October 28, 2010, the Joint Chapter 11 Plan of Reorganization of Hawaiian Telcom Communications, Inc. and its Debtor Affiliates (the “Plan”) became effective.  Also, on October 28, 2010, pursuant to the Plan, the Debtors and the Trustee entered into a Litigation Trust Agreement (the “Litigation Trust”) for the benefit of holders of Allowed Senior Notes Claims and Allowed Unsecured Claims.  The only assets of the Litigation Trust are certain potential claims against former employees and vendors that were assigned to the Litigation Trust (the “Claims”).  The Litigation Trust is funded solely by the proceeds, if any, from the Claims.  The Claims will likely be disputed and the subject of litigation, and, therefore, there is no guaranty that there will be any recovery or distribution to the beneficiaries of the Trust.