Intelsat’s Chapter 11 bankruptcy court will hold an omnibus hearing on March 17th.
The remote video hearing will see Judge Philips hear a number of motions. Three important items listed for hearing are the application by Intelsat’s lawyers for the court to approve Intelsat’s request for an “Expedited” process for its exit plan from bankruptcy.
This would include Intelsat’s schedule for the future handling of their bankruptcy reconstruction and to establish “reasonable dates and deadlines” for document discovery and trial on each of these matters.
Intelsat entered bankruptcy protection on May 13th 2020, and filed their exit plan on February 12th 2021.
A second important item is the SES legal claim against Intelsat. SES wants clarity as to which Intelsat entity will be in receipt of the FCC’s ‘incentive’ C-band payments. The court will also hear more from SES in its legal action for a greater share of the overall amount to be awarded by the FCC in terms of C-band payments.
SES will be asking the bankruptcy court to permit its legal action against Intelsat to go ahead.
The third item is the motion from a group of Intelsat SA shareholders asking the court to give them formal representation in the bankruptcy action and thus empowering the shareholders to fight for a slice of the FCC’s incentive payment.
Meanwhile, Intelsat’s holders of its debt are arguing that the FCC cash should go to Intelsat SA, and not any of the other Intelsat companies.