{"id":86581,"date":"2010-07-28T23:58:58","date_gmt":"2010-07-28T15:58:58","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/u-s-bankruptcy-court-approves-sea-launch-reorganization-plan\/"},"modified":"2010-07-28T23:58:58","modified_gmt":"2010-07-28T15:58:58","slug":"u-s-bankruptcy-court-approves-sea-launch-reorganization-plan","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/u-s-bankruptcy-court-approves-sea-launch-reorganization-plan\/","title":{"rendered":"U.S. Bankruptcy Court Approves Sea Launch Reorganization Plan"},"content":{"rendered":"<p>[07-28-10] <strong>The U.S. Bankruptcy Court in Delaware<\/strong> approved <strong>Sea Launch<\/strong>\u2019s reorganization plan to prepare for its emergence from Chapter 11 bankruptcy protection in the third quarter, the company announced July 27. <br \/>\n&nbsp;&nbsp;&nbsp; Sea Launch filed the plan May 10 as part of a 13-month restructuring process that was initiated when the company filed for bankruptcy in June 2009. The reorganization plan will become effective following completion of a U.S. regulatory review.&nbsp; <br \/>\n&nbsp;&nbsp;&nbsp; \u201cCourt confirmation of our Plan of Reorganization is the next step in the reorganization process for Sea Launch and brings us closer to re-entering the market as a strong and competitive commercial launch service provider. We will continue toward emergence with a solid financial structure and a healthy manifest of future launches,\u201d Sea Launch President Kjell Karlsen said in a statement.<br \/>\n&nbsp;&nbsp;&nbsp; Details of Sea Launch\u2019s reorganization plan have yet to be revealed. In a disclosure statement filed with the bankruptcy court in May, Sea Launch said it intends to repay its $30 million debtor-in-possession loans in full, while current trade vendor\u2019s unsecured claims, such as those from <strong>Aker<\/strong> and <strong>Boeing<\/strong>, would be repaid at 17.5 percent on the dollar. <br \/>\n&nbsp;&nbsp;&nbsp; The company has remained active throughout the bankruptcy process. Earlier in July, Sea Launch won multiple launch contracts with operators <strong>EchoStar<\/strong> and <strong>AsiaSat<\/strong>. A $25 million credit line from Space Launch Services has allowed Sea Launch to continue operating through reorganization.<\/p>\n<h2>Related Stories-<\/h2>\n<p>\n<b class=\"titlelink\">Sea Launch Wins EchoStar Contract for Up to Three Launches<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tJuly 27, 2010<br \/>\n[07-27-10] Sea Launch has  signed an agreement with a subsidiary of EchoStar Satellite Services to  launch up to three satellites on the Sea Launch system, the company  announced July 23.   Sea Launch will launch the satellites on\u2026<\/p>\n<p><b class=\"titlelink\">Sea Launch Wins AsiaSat Contract; Plans to Exit Chapter 11 in Third  Quarter<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tJuly 13, 2010<br \/>\n[07-13-10] Sea Launch has  entered into an agreement with Asia Satellite Telecommunications  (AsiaSat) to launch an AsiaSat satellite into geosynchronous transfer  orbit between 2012 and 2014, Sea Launch announced July 12.<\/p>\n<p><b class=\"titlelink\">Sea Launch Reorganization Plan Pays Back Only 17.5 Percent of Boeing s  Claims<\/b>&nbsp;&nbsp; \t\t\tSatellite Today&nbsp;&nbsp; \t\t\tMay 13, 2010<br \/>\n[05-13-10] Under Sea Launch s  reorganization plan, Aker and Boeing may not receive the full $1.76  billion in claims the two companies filed against the launch provider  after it filed for bankruptcy in June, according to a disclosure\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[07-28-10] The U.S. Bankruptcy Court in Delaware approved Sea Launch\u2019s reorganization plan to prepare for its emergence from Chapter 11 bankruptcy protection in the third quarter, the company announced July 27. &nbsp;&nbsp;&nbsp; Sea Launch filed the plan May 10 as part of a 13-month restructuring process that was initiated when the company filed for bankruptcy [&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-86581","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86581"}],"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=86581"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86581\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=86581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=86581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=86581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}