Ligado Networks is in trouble. It is suing various US government Agencies for $40 billion (€37.1bn) of compensation and claiming that the Agencies “roadblocked” Legado’s FCC-licensed L-band frequencies and spectrum because the US government wanted the spectrum itself. The L-band spectrum was granted to Ligado by the FCC in 2020 with permission to roll out […]
Spacecraft launch company Astra, which went public in July 2021, is being taken back into private ownership. The company has admitted that the only alternative was to declare bankruptcy. Chris Kemp, CEO, and Adam London, CTO, the joint founders of the business, announced on March 7th that the company would be taken private with existing […]
The US Bankruptcy Court looking into the long-running claim by SES for a greater share of the FCC’s C-band compensation payments has reopened the claim. The move follows the verdict given in June by an Appeal Court that upheld the SES claim. The overall amount being claimed is $421 million (€391.7m), but there will be […]
Virgin Orbit, in Chapter 11 bankruptcy protection, has asked its bankruptcy court to delay the deadline for prospective bidders to make their intentions known. Virgin Orbit says that more time was needed to iron out some details and to give more time to get a deal done. Virgin Orbit had originally set May 14th for […]
Vice Media Group is preparing to file for bankruptcy. Vice has already closed its Vice News Tonight, amidst a wave of closures including BuzzFeed News. Vice had already put itself up for sale and had interest from five companies, the NYT reports. It adds that in the event of a bankruptcy, Vice’s debt holder Fortress […]
Virgin Orbit, in a filing to its Chapter 11 bankruptcy court, has set a deadline of May 4th for parties interested in acquiring the business to indicate their interest. Then, it has set May 14th to enter their formal bids. Additionally, May 9th has been set for a meeting of the company’s Creditors. Dan Hart, […]
Virgin Orbit says it wants to exit its Chapter 11 bankruptcy protection by the end of May. The rocket-launching company moved into its ‘Debtor in Possession’ mode on April 4th with fresh cash (of $31.6 million) coming from Sir Richard Branson’s Virgin Investments company. Virgin Orbit, in a 78-page motion to its bankruptcy court, supplied […]
Judge Keith Phillips has set December 16th for what looks likely to be the final day set aside for Intelsat’s bankruptcy Exit Plan confirmation hearings. There will be other discussions, motions and legal manoeuvres but most observers expect this particular element of the bankruptcy exit process to wrap. Judge Phillips has already set aside January […]