N. Chesterfield, VA -- (ReleaseWire) -- 05/15/2020 --Intelsat, S.A. ("Intelsat") is seeking to restructure its debt under chapter 11 of the bankruptcy code as the world's second largest satellite operator seeks to ease its approximately $14.7 billion in debt and participate in the FCC's spectrum clearing program. Intelsat filed for bankruptcy on May 13, 2020 in the Eastern District of Virginia, Richmond Division.
Intelsat was granted court approval at its first day hearings held May 15, 2020 to use its approximately $461 million of cash on hand to fund its continued management, operations, and the preservation of its businesses. Intelsat will ultimately seek to fund their operations with a $1 billion debtor-in-possession credit facility.
Bankruptcy petitions were filed by affiliates of Intelsat including:
Intelsat Virginia Holdings LLC
Intelsat Connect Finance S.A.
Intelsat (Luxembourg) S.A.
Intelsat Envision Holdings LLC
Intelsat US LLC
Intelsat Investment Holdings S.À.R.L.
Intelsat Holdings S.A.
Intelsat Investments S.A.
Intelsat UK Financial Services Ltd.
Intelsat Jackson Holdings S.A.
Intelsat Align S.À.R.L.
Intelsat License Holdings LLC
Intelsat Subsidiary (Gibraltar) Limited
Intelsat Holdings LLC
Intelsat Finance Bermuda Ltd.
Intelsat Satellite LLC
Intelsat License LLC
Intelsat Ventures S.À R.L.
Intelsat Global Sales & Marketing Ltd.
Intelsat International Systems LLC
PanAmSat International Holdings LLC
Intelsat International Employment LLC
PanAmSat Europe Corporation
Intelsat Genesis GP LLC
Intelsat Service and Equipment LLC
Southern Satellite LLC
Southern Satellite Licensee LLC
PanAmSat International Sales LLC
Intelsat Genesis Inc.
Intelsat Alliance LP
Intelsat US Finance LLC
PanAmSat India LLC
PanAmSat India Marketing L.L.C.
Intelsat Asia Carrier Services LLC
Intelsat's bankruptcy cases are being jointly administered under its chapter 11 case identified as Intelsat, S.A., case numbered 20-32299. Proposed counsel for Intelsat are the law firms of Kirkland & Ellis LLP and Kutak Rock LLP. Stretto is serving as the noticing and claims agent.
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia. Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Intelsat's bankruptcy.
Ronald Page, PLC
PO Box 73087
N. Chesterfield, VA 23235