PARIS — An Intelsat shareholder wants the company to reverse what appears to be its slide into Chapter 11 bankruptcy by making a past-due bond payment and avoid a default that would trigger a Chapter 11 filing.
Payment on Intelsat’s $2.25-billion, 8.5% bond maturing in 2024 was due April 15. Intelsat has until May 15 to complete the payment or risk being declared in default. That would almost certainly precipitate a filing for protection under Chapter 11 of the U.S. Bankruptcy Code, which some Intelsat shareholders . . .
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