Intelsat alleges fraud at OneWeb/SoftBank
September 19, 2019
By Chris Forrester
A potentially devastating dispute has broken out between two former “cooperation” joint-venture partners: Intelsat has filed a lawsuit against OneWeb and its financial backer Japan’s SoftBank.
The writ alleges that the OneWeb and SoftBank conspired together in stealing confidential information, because – the writ states – SoftBank no longer believed in the OneWeb project and was seeking to protect its previous investment in OneWeb,
Somewhat bizarrely SoftBank had attempted to buy Intelsat, while Intelsat is a modest investor in the OneWeb project.
The action commenced on last week in New York’s Supreme Court.