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SSPI Timeline: 2009 – Bankruptcies
Three companies filed for Chapter 11 bankruptcy protection in 2009: In June it was Sea Launch, reporting assets of between $100 million and $500 million and estimated debt of almost $2 billion. In November, Sea Launch secured financing for continued operations and just two weeks later successfully launched the Intelsat 15 satellite from the Baikonur Space Center in Kazakhstan. In May, DBSD North America, formerly known as ICO North America, a subsidiary of ICO Global Communications, filed claiming assets totaling about $630 million as of March 31 and outstanding debt of about $813 million. Then in July Asian satellite operator ProtoStar filed for bankruptcy. Intelsat won the bidding for the ProtoStar 1 satellite in October with a $210 million offer. The ProtoStar 2 satellite went to SES during a December auction for $185 million.
Click here to view this event in the SSPI Satellite Industry Timeline.
Visit the SSPI Satellite Industry Timeline to tour the decades of the Satellite Era.
The SSPI Satellite Timeline is the first interactive site on the Web to chronicle the rich and diverse history of the commercial satellite industry. Launched in October 2007 – the 50th anniversary of Sputnik – the Timeline is a learning tool for satellite professionals, students, the news media and the innovative companies that make up the industry.
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