Intelsat’s bankruptcy court has postponed a March 17th hearing of the SES action against Intelsat and where SES is claiming $1.8 billion for what it alleges is unfair practice during the C-Band Alliance process and the subsequent division of the FCC’s ‘incentive’ payments for clearing the satellite frequencies.
The bankruptcy court adjourned the hearing on the motion of Intelsat SA’s convertible noteholders for authority to file a complaint determining ownership of the Accelerated Relocation Proceeds and SES’s motion to intervene in that complaint, until June 14th.
However, June 14 is also the currently-scheduled date of the hearing on confirmation of Intelsat’s plan of reorganisation. The Court specifically acknowledged that the issue of ownership of the Accelerated Relocation Proceeds was a critical issue in the Intelsat cases and recognised that many parties, including SES, wanted the opportunity to be heard on that issue.
The Judge ultimately determined that the best time to take up that issue was in June, in connection with the plan confirmation hearing.