Fong's plantation to be auctioned in court on Oct. 1
By Kelly Yamanouchi
Advertiser Staff Writer
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Bank of Hawaii filed a foreclosure complaint against the former senator's family and his attraction park company in Kahalu'u last September, saying the Fongs had defaulted on a $1 million loan and owed $698,867, plus $184.42 in daily interest.
An open house at the plantation was held Sept. 7, and another is scheduled Sunday. The property will be sold at noon Oct. 1 in First Circuit Court in Honolulu.
Defendants named in the foreclosure complaint were Fong, his wife, Ellyn, son Hiram Jr., daughter Merie-Ellen Fong Gushi, and Senator Hiram Fong's Plantation & Gardens Inc.
Fong filed for bankruptcy protection in March and resigned from the company he helped found, Finance Factors Ltd.
His son Marvin filed suit in October, alleging that his parents had reneged on an agreement to option their stock in another family company — Market City Ltd. — to Marvin and his wife. The elder Fongs contested the allegation.
Plantation & Gardens Inc. was developed from a plot of land that Fong purchased in 1950. He eventually expanded the property to 725 acres and opened the visitor attraction.
The attraction is a bird sanctuary and nature preserve with rare species of plants and exotic fruits. Tram tours are offered for a fee.
Reach Kelly Yamanouchi at (808) 535-2470 or kyamanouchi@honoluluadvertiser.com.
