OneWeb (and its WorldVu business) and Intelsat have “consensually” settled and withdrawn their claims on each other as part of Intelsat’s Chapter 11 bankruptcy reconstruction.
OneWeb itself also spent part of last year in Chapter 11.
The filing into Intelsat’s bankruptcy court on March 29th stated: “Intelsat and the Reorganized Debtors of OneWeb will work together in good faith to obtain the dismissal of the New York State Court Litigation as soon as reasonably practicable after (a) this Stipulation is so-ordered by the Intelsat Court and OneWeb Court, (b) the Intelsat Claims are withdrawn in the OneWeb Cases and (c) the OneWeb Claim is withdrawn in the Intelsat Cases.”
Intelsat was an investor in OneWeb, while Intelsat was claiming $643,990 against OneWeb. Both parties pay their own legal costs