{"id":87782,"date":"2009-12-14T21:01:05","date_gmt":"2009-12-14T16:52:05","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/bankruptcy-court-rejects-ses-protostar-2-bid-agreement\/"},"modified":"2026-08-19T14:46:42","modified_gmt":"2026-08-19T06:46:42","slug":"bankruptcy-court-rejects-ses-protostar-2-bid-agreement","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/bankruptcy-court-rejects-ses-protostar-2-bid-agreement\/","title":{"rendered":"Bankruptcy Court Rejects SES ProtoStar 2 Bid Agreement"},"content":{"rendered":"<p>[12-14-09] <strong>The U.S. Bankruptcy Court of Delaware <\/strong>has rejected a proposed agreement between <strong>ProtoStar<\/strong> and <strong>SES<\/strong> over the auction of the ProtoStar 2 satellite, scheduled for Dec. 16.<br \/>\n&nbsp;&nbsp;&nbsp; Under the terms of the agreement, filed with the court Dec. 9, SES would have offered a floor bid of $185 million in cash for ProtoStar 2 in exchange for a guaranteed $6.3 million in compensation from the bankruptcy court if SES were outbid.<br \/>\n&nbsp;&nbsp;&nbsp; In the court documents, ProtoStar argued that SES\u2019s offer would attract higher bids for the satellite, since its floor bid was close to the high-end of ProtoStar 2\u2019s estimated value. ProtoStar also claimed that SES would withdraw its $185 million bid if it were not guaranteed compensation. \u201cThere is substantial risk that ProtoStar will not be able to realize the same value,\u201d ProtoStar said.<br \/>\n&nbsp;&nbsp;&nbsp; In November, <strong>Intelsat<\/strong> won the auction for ProtoStar 1 with a bid of $210 million. ProtoStar 2, launched in May and equipped with 27 Ku-band and 13 S-band transponders, is located at 107.7 degrees East. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>[12-14-09] The U.S. Bankruptcy Court of Delaware has rejected a proposed agreement between ProtoStar and SES over the auction of the ProtoStar 2 satellite, scheduled for Dec. 16. &nbsp;&nbsp;&nbsp; Under the terms of the agreement, filed with the court Dec. 9, SES would have offered a floor bid of $185 million in cash for ProtoStar [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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-87782","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87782"}],"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=87782"}],"version-history":[{"count":1,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87782\/revisions"}],"predecessor-version":[{"id":87964,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/87782\/revisions\/87964"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=87782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=87782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=87782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}