TUPPER LAKE, NY— The Chapter 11 bankruptcy filing of Hughes Satellite Systems and affiliated companies following non-payment of $1.5 billion in debt has prompted the dismissal of 31% of its work force and will lead to a potentially nasty battle with lenders over Hughes’s relationship to parent company EchoStar Corp.
In an Aug. 3 filing in the Bankruptcy Court for the Southern District of Texas, Hughes Chief Restructuring Officer Robert Del Genio said 400 Hughes employees in late July were given an average 60 . . .
To view the entire article, become a subscriber!
