{"id":84131,"date":"2011-10-07T23:41:10","date_gmt":"2011-10-07T15:41:10","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/globalstar-heading-to-arbitration-after-thales-rejects-six-satellite-order\/"},"modified":"2011-10-07T23:41:10","modified_gmt":"2011-10-07T15:41:10","slug":"globalstar-heading-to-arbitration-after-thales-rejects-six-satellite-order","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/globalstar-heading-to-arbitration-after-thales-rejects-six-satellite-order\/","title":{"rendered":"Globalstar Heading to Arbitration After Thales Rejects Six-Satellite Order"},"content":{"rendered":"<p>[10-07-11] <b>Thales Alenia Space<\/b> rejected <b>Globalstar\u2019s<\/b> recent order for six quick-delivery spacecraft as part of its second-generation constellation, according to documents filed Oct. 5 with <b>the U.S. Securities and Exchange Commission (SEC)<\/b>.<br \/>\n&nbsp; &nbsp;In the filing, GlobalStar revealed that its prime contractor for its second-generation mobile communications satellite constellation said the company had, \u201cno right to place the order.\u201d Globalstar also said that it has made adjustments to its bank financing structure that will allow the company to delay its in-service date for the 24 second-generation satellites already under construction without violating its loan covenants with its lending consortium.<br \/>\n&nbsp; &nbsp;French export-credit agency <b>Coface<\/b>, which is part of the consortium, has agreed to allow Globalstar to use its current resources to order the six new satellites under the terms that the contract can be concluded for 55.2 million euros ($75 million) or less.<br \/>\n&nbsp; &nbsp;Globalstar and Thales Alenia Space confirmed that the two companies have submitted disputes over future contractual satellite construction obligations to the <b>American Arbitration Association<\/b> and that an arbitration hearing has been scheduled for Jan. 24.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[10-07-11] Thales Alenia Space rejected Globalstar\u2019s recent order for six quick-delivery spacecraft as part of its second-generation constellation, according to documents filed Oct. 5 with the U.S. Securities and Exchange Commission (SEC). &nbsp; &nbsp;In the filing, GlobalStar revealed that its prime contractor for its second-generation mobile communications satellite constellation said the company had, \u201cno right [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-84131","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84131"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=84131"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84131\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}