Ligado Reports Tentative Inmarsat Settlement in Bankruptcy
Ligado has tentatively reached an agreement with Inmarsat settling disputes related to Ligado's Chapter 11 bankruptcy, Milbank financial restructuring lawyer Andrew Leblanc, who represents Ligado, said Thursday. In a status conference (docket 25-10006) before U.S. Bankruptcy Court Judge Thomas Horan,…
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Leblanc said the agreement, also tentatively approved by AST SpaceMobile and two ad hoc creditor groups, would resolve the Inmarsat disputes and allow Ligado's transaction with AST to go through. Ligado has said its AST deal, with AST compensating Ligado for access to the latter's spectrum, is key to its Chapter 11 reorganization (see 2501060026). Leblanc didn't give the court details of the agreement, saying that the parties are still exchanging updated versions of term sheets. The finalized terms would be incorporated into a revised AST order, he said: "Nothing is done until it's done," but a final agreement could be before the court in days.