Maui Land & Pineapple Company, Inc. v. Dillingham Corp.

OPINION OF THE COURT BY

NAKAMURA, J.

The issue is whether the conveyance of a lease by the Dillingham Corporation (Dillingham or the corporation) to Ala Moana Hawaii Properties (Ala Moana), a limited partnership whose limited partners are the corporation’s stockholders, was an “assignment” for purposes of Paragraph 15(a) of the lease agreement between Dillingham and the Maui Land and Pineapple Company, Inc. (Maui Land). The Circuit Court of the Second Circuit held that the transfer, effected as part of a plan to liquidate Dillingham’s commercial real estate operating assets in Hawaii,…