Intelsat is in the process of exiting its Chapter 11 bankruptcy reconstruction. It has organised its post-bankruptcy financing and German financial services giant Allianz will be very much in control of Intelsat. The European Commission approved on January 24th the control of Intelsat Holdings SA by Allianz SE and has given the green light to […]
The FT reports that as Intelsat emerges from its Chapter 11 bankruptcy reconstruction the satellite operator will lose its CEO Steve Spengler (who will leave with a pay-out of at least $4 million) but could also find itself open to a takeover. SES is mentioned as a potential buyer. The FT quotes analyst Armand Musey, […]
Last week saw Intelsat’s lawyers submit their arguments to the court in advance of the trial scheduled for February 7th. Intelsat gave a number of reasons why they believe the SES claim for 50 per cent of the FCC’s incentive payments for clearing C-Band spectrum should fail. Lawyers for SES, on January 14th, submitted their […]
Financial ratings agency, Fitch Ratings, has assigned its verdict on Intelsat’s capital restructuring. Intelsat is likely to emerge from its Chapter 11 bankruptcy reconstruction shortly and is already in the process of arranging fresh financing and borrowing. Fitch says it has assigned a ‘B+’ rating on Intelsat’s Jackson Holdings SA sister company with a ratings […]
The long-running dispute between SES and Intelsat over the SES claim for a full 50 per cent share of the FCC’s C-band accelerate incentive payments is now getting to the focal point in their arguments. Intelsat’s lawyers submitted 134 pages of Exhibits that they depend on and potentially used to support their rebuttal of the […]
Integrated satellite and terrestrial network operator Intelsat and Thales Alenia Space – the Joint Venture between Thales and Leonardo – have signed an agreement to build two software-defined satellites designed to advance Intelsat’s global fabric of software-defined GEO connectivity as part of its 5G software-defined network. “The orders were not unexpected,” notes Chris Forrester. “Now that […]
Intelsat’s long journey, from May 13th 2020, to ending its Chapter 11 bankruptcy reconstruction, has its end in sight. Its bankruptcy court has planned an Omnibus hearing for today (January 6th at 11.00 am ET) in Virginia. The Court has already approved Intelsat’s exit plan. Judge Keith Phillips will hear submissions on one remaining contested […]
The much-delayed legal action from SES against Intelsat over the division of FCC C-band incentive payments is scheduled to begin on February 7th. Two weeks have been allocated for the action. While subject to last-minute delays and Court rules over the Covid anxieties, the lawyers in the action have agreed that witnesses might appear in […]
Luxembourg, the domicile of satellite giants SES and Intelsat, has announced that its Luxembourg Future Fund (LFF) will invest in Canada’s NorthStar Earth & Space. The new investment will build on the partnership between Luxembourg’s Ministry of the Economy and the Canadian-based company. NorthStar claims to be the first commercial service aiming at monitoring space […]
Judge Keith Phillips, on December 16th, approved Intelsat’s plan for the settlement of much of its indebtedness prior to its May 2020 Chapter 11 bankruptcy. The bottom line is that the agreement reduces Intelsat’s old debts of about $16 billion by more than half thanks to the acceptance of the company’s new Plan of Reorganisation. […]