Loral emerges from Chapter 11
Posted: Tue, Nov 22, 2005, 9:35 PM ET (0235 GMT)
Loral Space and Communications announced Tuesday that it has emerged from Chapter 11, nearly two and a half years after it filed for bankruptcy protection. The company, which is both a satellite operator and manufacturer, entered Chapter 11 in mid-2003 after building up huge debts during the preceeding several years. With its reorganization complete, the company now has $180 million in cash and $126 million in debt, and has issued new common stock to be traded on NASDAQ. As part of the reorganization the company sold several satellites to Intelsat.
Loral Space and Communications announced Tuesday that it has emerged from Chapter 11, nearly two and a half years after it filed for bankruptcy protection. The company, which is both a satellite operator and manufacturer, entered Chapter 11 in mid-2003 after building up huge debts during the preceeding several years. With its reorganization complete, the company now has $180 million in cash and $126 million in debt, and has issued new common stock to be traded on NASDAQ. As part of the reorganization the company sold several satellites to Intelsat.| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Tuesday, January 20
Gilmour Space’s mega-raising turns rocket maker into unicorn
Australian Financial Review — 5:41 am ET (1041 GMT) Adam’s last rocket blew up. Taxpayers are betting $75m the next one will go better
The Age — 5:39 am ET (1039 GMT) Rocket fuel: Gilmour Space hits unicorn status after $217 million Series E
Startup Daily — 5:38 am ET (1038 GMT) Gilmour Space secures $217M investment to scale Australian space manufacturing capability
Australian Manufacturing — 5:38 am ET (1038 GMT) Gilmour Space secures major Australian investment to scale sovereign space capability
Gilmour Space — 5:37 am ET (1037 GMT) |
