Intelsat’s creditors are launching $ 1.8 billion in corrective action in $ 15 billion chapter. 11

By Jeff Montgomery (December 9, 2021, 9:30 p.m. EST) – A creditor of Intelsat SA on Thursday questioned a financial advisor for the firm about whether the bankrupt firm had reviewed the possibility of reinstating some $ 1.8 billion. dollars in senior notes to save money and claims in its nearly $ 15 billion Chapter 11 debt restructuring case, underscoring the recent success of the tactic in another proceeding.

The questioning took place on the fourth day of a plan confirmation hearing for the debtor, one of the world’s largest satellite operators, in U.S. bankruptcy court for the Eastern District of Virginia.

C. Lee Wilson of Jones Day, counsel to the Jackson Crossover Ad Hoc Group, …

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