[Satellite TODAY 05-05-10] The U.S. Bankruptcy Court of Delaware authorized Energia Overseas Ltd. (EOL) to replace Space Launch Services (SLS) as Sea Launch’s existing debtor-in-possession lender, Sea Launch announced May 4.
    EOL will provide Sea Launch with an additional $30 million in financing. Part of the proceeds of this facility will be used to repay all outstanding Space Launch Services loans to date, totaling about $19 million. The remaining balance of this facility will be used to fund ongoing operations at Sea Launch through confirmation of its Plan of Reorganization.
    Sea Launch, which declared bankruptcy in June, said the new arrangement positions the company for exit financing as it prepares to emerge from Chapter 11 bankruptcy.

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