Avanti Communications, at long last, has received $20 million in a Court-awarded settlement against the government of Indonesia.
The payment is no great surprise although the Indonesians were reported to be considering an appeal against the arbitration ruling.
Avanti, in its formal statement, said: “[We] confirm that, in accordance with its announcement made on July 10th, it has now received the full $20.075 million outstanding payment in full and final settlement following the adjudication decision of the London Court of Arbitration between itself and the Government of Indonesia.”
Kyle Whitehill, CEO, commented: “We thank the Government of Indonesia for its payment of the outstanding sum due to Avanti Communications Group plc, following our earlier support of Indonesian satellite communications plans which utilised our now decommissioned Artemis satellite. With this issue resolved and HYLAS 4 about to come on-stream, Avanti goes forward”.