Rivada Space Networks is planning an initial 300 craft fleet of low Earth orbiting satellites. It is facing a demanding series of key dates get the constellation into space. Now, however, it is facing a tough demand from a US court ruling.

A New York judge has ordered Irish entrepreneur and the firm’s major backer Declan Ganley to hand over control of the company behind his planned space satellite constellation to fellow investor David Shuman.

The ruling revolves around an alleged debt of $3.1 million owed by Ganley to Shuman. Also in dispute is a $16.2 million debt, again allegedly owed by Ganley to Shuman, which is the subject of a dispute heard in a Delaware court.

The sums appear relatively modest when compared to the $3 billion or more needed to fund the constellation.

Ganley is building his financing options and has sought help from the US Ex-Im Bank to help fund the project. Rivada has contracted with Terran Orbit to build the initial fleet in a $2.4 billion contract.

Other posts by Chris Forrester:

1. Scotland’s rocket launch gets closer
2. SpaceX tops 6,300 Starlinks; IPO rumours
3. Full details of SES, Intelsat deal
4. Ariane 6 launch campaign underway
5. Virgin Galactic in stock split
6. Thuraya-3 suffers major problem
7. AST SpaceMobile hit by Class Action
8. Optimism under threat at SES
9. Rivada visits Terran Orbital’s manufacturing HQ

Categories: Blogs, Business, Inside Satellite, Satellite

Tags: Low Earth Orbit, rivada, Rivada Space Network, satellite