Munich-based Mynaric, which makes satellite laser terminal links, has exited the German version of Chapter 11 (StaRUG). Back in March, Sir Peter Beck’s Rocket Lab announced plans to acquire Mynaric but there’s now a new owner in place. The new owner is JVH-Holding, which had been Mynaric’s main creditor but agreed to waive $105 million […]
The Charlie Ergen-backed pay-TV operation EchoStar, which includes DISH as well as Hughes Network Systems, is reportedly contemplating the option of filing for Chapter 11 bankruptcy. EchoStar firmly denies the report, which originated in The WSJ. This move is perhaps a last-ditch part of the company’s strategy to protect its valuable wireless spectrum licences, which […]
German satellite equipment maker Mynaric AG is widely expected to file for bankruptcy protection in the next few days. Munich-based Mynaric is a major producer of laser communication systems for use in space. Its customer portfolio includes Northrop Grumman, Rocket Lab and York Space. The German bankruptcy rules allow businesses to file for protection under […]
Ligado Networks filed for Chapter 11 bankruptcy protection on January 6th. Ligado holds some extremely valuable ‘L-band’ spectrum over North America but is in the middle of a bitter dispute with the US government and has accused the US government of improperly blocking it from commercialising licensed spectrum through what it called one of the […]
Edgio, a provider of media content and cyber-security solutions, has voluntarily filed for chapter 11 relief in the US Bankruptcy Court for the District of Delaware to effectuate one or more sale transactions that it says “should” allow for the continued operation of the company’s business under new ownership. The company enters this process with […]
Intelsat emerged from its Chapter 11 bankruptcy in February 2022. However, there were many smaller matters that its bankruptcy court still had outstanding, not least a dispute between Intelsat and SES over how the FCC’s C-band incentive payments were to be divided. Over the past few months, these minor elements have all been resolved. Smaller […]
As the song goes, the road may be long and there have certainly been a few twists and turns, but this week global satellite operator Iridium is celebrating 25 years of activity. The first connections to its orbital fleet took place on November 1st 1998 and then further satellite commercial connections took place on November […]
Lawyers acting for SES have submitted a detailed document to the Bankruptcy Court handling Intelsat’s Chapter 11 reconstruction. The move is made in response to a successful appeal by SES in its ‘breach of contract’ claim for about $421 million (€399.1m) and damages relating to the 50/50 agreement and share of the FCC’s C-band compensation. […]
Vice Media has formally filed for Chapter 11 bankruptcy protection. It is reported that the digital media and broadcasting company will now seek ‘Debtor in Possession’ financing and pursue a sale. The bankruptcy petition, filed at the Southern District of New York court, talks of debts to Fortress Credit of some $475 million (€436.7m), amongst […]
Virgin Orbit, currently going through a Chapter 11 Bankruptcy Protection, says there are 30 potential bidders to buy the business. Virgin Orbit is trading under ‘Debtor in Possession’ rules, with the operating cash provided by Sir Richard Branson’s overall holding company. Virgin Orbit, in a formal filing, says there are 30 “indications of interest” including […]