SES vs Intelsat: Trial wraps
February 18, 2022
The SES vs Intelsat 50/50 trial over FCC C-band incentive payments has finished its initial examination and cross examination of witnesses. Far fewer witnesses were called by either party and consequently the hearings lasted just 6 full days instead of the 10-12 initially expected.
Judge Keith Phillips ruled that both parties must submit their “findings of fact and conclusions of law” within the next 30 days. He will deliver his verdict later in the year.
Meanwhile, the exit from Chapter 11 bankruptcy by Intelsat is now close. A substantial document was filed with the court on Feb 15. Information within the document states that the initial (post-bankruptcy) Intelsat Emergence SA will be renamed Intelsat SA upon the exit from bankruptcy. Intelsat SA will be based in Luxembourg.
Directors, yet to be named, will include one individual each from Intelsat’s major equity holders Cyrus and Appaloosa plus two Class B directors who must reside in Luxembourg.