OneWeb bankruptcy court OKs additional $235 million in DIP financing for space, ground network

by Peter B. de Selding

PARIS — The court handling OneWeb Global Ltd.’s Chapter 11 bankruptcy approved an additional $235 million in Debtor-in-Possession (DIP) loans to maintain continuity in satellite production and continue work on OneWeb’s ground segment, its eventual user terminals and other expenses.

The Bankruptcy Court for the Southern District of New York is expected to approve OneWeb’s latest restructuring plan in early October, but regulatory approval of the company’s purchase, by the British government and India’s Bharti Global, could take an additional month . . .

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