Advanced Television

Speedcast

Intelsat suffering in “challenging” environment

Intelsat’s Q2 results, to June 30th, were not impressive. The company is in Chapter 11 bankruptcy reconstruction as a ‘debtor in possession’ and it is near-certain that it will exit bankruptcy in a stronger position, but at the moment the negative news is extensive. For example: Network Services (worth 37 per cent of Intelsat’s total […]

August 7, 2020By Chris Forrester

Inmarsat gets some Speedcast cash

Barely 48 hours after demanding that Australia-based satellite services company Speedcast (in bankruptcy) pay up its debts, Inmarsat relaxed its demand. London-based Inmarsat had outstanding invoices to Speedcast of almost $26 million. Inmarsat is the second-largest creditor for Speedcast. Inmarsat filed a motion with Speedcast’s bankruptcy court and asking the court to order Speedcast to […]

July 20, 2020By Chris Forrester

Inmarsat demands Speedcast payment

Last week Australia-based Speedcast (in bankruptcy reconstruction) struck an agreement with Intelsat (in Chapter 11 bankruptcy) which will see Speedcast continue its relationship with Intelsat over the next 15 months and pay what it owes to Intelsat. Speedcast owed Intelsat $45 million of old pre-bankruptcy invoices and will pay $24 million to cover obligations through […]

July 16, 2020

Intelsat reaches agreement with Speedcast

Intelsat, which is currently trading as a ‘debtor in possession’, will continue supplying its global satellite services to Australia-based SpeedCast International, which is also in bankruptcy reorganisation. It means that Intelsat will waive its current $44 million claim against SpeedCast and continue to be a primary bandwidth provider to SpeedCast. Speedcast entered bankruptcy on April […]

July 8, 2020By Chris Forrester