Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, April 9, 1996


Fat Tuesday franchisor sues
marketplace owners

A Louisiana company is seeking damages from the owners of Aloha Tower Marketplace over the eviction of the Fat Tuesday restaurant earlier this year.

Fat T Inc., owners of the rights to the Fat Tuesday trade name, filed suit in federal court in Honolulu on Monday saying that it could have prevented the eviction if Aloha Tower Associates had given the company the timely warning required in the lease.

The company said its lease required the landlord to send all rent-default notices to Fat T. Inc., not just the operating partnership that held the Fat Tuesday franchise.

Aloha Tower Associates notified the operating partnership, FT/SJ Honolulu, in July of last year it was $240,000 behind in rent and fees but did not tell the franchisor, Fat T. Inc., until six months later, the lawsuit states.

Also evicted was the adjoining Sloppy Joe's restaurant, also operated by FT/SJ Honolulu.



Isle bank wins OK for mainland subsidiary

The Federal Reserve Board has approved First Hawaiian Inc.'s proposal to establish an Oregon-based subsidiary, Pacific One Bank.

The board on Monday also approved First Hawaiian's application to have its subsidiary, Pioneer Federal Savings Bank, operate five branches being acquired and established in Washington state as Pacific One Bank, F.S.B.

In all, First Hawaiian plans to acquire 31 branches in Oregon, Washington and Idaho.

Pacific One Bank, which will be based in Portland, will operate 26 of the branches - 25 in Oregon and one in Idaho. The bank is expected to open in June pending approval by other federal and state regulators.

Earlier this year, First Hawaiian Inc. announced a definitive agreement to acquire ANB Financial Corporation, owner of American National Bank in Kennewick, Wash. American National Bank has four branches in the Tri Cities area of central Washington. That deal is expected to be completed this year.

First Hawaiian Inc., with assets of $7.6 billion, is the parent company of First Hawaiian Bank.



For more local, national and international business news, see the Hawaii Inc. section in today's Honolulu Star-Bulletin.




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