Intelsat looks to wrap bankruptcy claims
June 17, 2022
Lawyers for Intelsat’s bankruptcy filed a motion to the satellite operator’s bankruptcy court saying that they will be applying for a ‘Final Decree’ on or before June 29th. The document recognises that there may be other matters and claims still outstanding after that date.
Intelsat’s Fourth Chapter 11 Plan of Reorganisation was filed back on December 17th 2021 and subsequently accepted by the court with Intelsat emerging from its Chapter 11 reorganisation on February 23rd 2022.
The lawyers say that – to date – “entities have filed approximately 1,400 proofs of claim against the Debtors on an aggregate basis, collectively asserting approximately $28.5 billion in liabilities… The Reorganised Debtors’ fourth round of omnibus objections seeking to expunge, reduce and/or reclassify over fifty-one claims was recently granted.”
Not mentioned, but clearly still outstanding, is the claim by SES against Intelsat for a greater share of the FCC’s incentive payment in respect of the FCC’s C-band reallocation of frequencies.