Intelsat Chapter 11 court OKs $1-billion C-band funding and procedure to clear Mitsui’s Spaceflight purchase

by Peter B. de Selding

PARIS — Intelsat’s Chapter 11 bankruptcy court approved the use of $1 billion in Debtor-In-Possession funding to manage the business and finance the company’s C-band repacking under U.S. Federal Communications Commission (FCC) guidance.

The court also approved a maneuver that will permit the planned sale of Spaceflight Industries’ launch-service coordination business to Mitsui & Co. Ltd., but keep the sale proceeds out of the hands of the Spaceflight-Thales Alenia Space Leostella joint venture.

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