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OneWeb Gets FCC Approval For 1.280k More Satellites

August 28, 2020 by editorial

The FCC has approved OneWeb’s request to deploy an additional 1,280 satellites to provide high-speed broadband services in the US.

The approval increases the number of satellites OneWeb can operate in the US market from 720 to 2,000, offering the company “greater opportunities to deliver satellite-based broadband services to the public,” the agency said in an order released August 26th. The FCC says its ruling will offer OneWeb greater opportunities to deliver satellite-based broadband services to the public.

OneWeb proposes to add a V-band payload to the 720 satellite Ku-/Ka-band constellation previously approved by the FCC and proposes 1,280 additional V-band satellites operating at a nominal altitude of 8,500 km. “The OneWeb constellation will be authorized by the United Kingdom,” stated the FCC, adding, “The additional spectrum bands and satellites proposed in the OneWeb Petition would build upon OneWeb’s Ku/Ka-band Market Access Grant. Such additional capacity would enhance OneWeb’s ability to offer its proposed broadband services in the United States.”

“We conclude that granting OneWeb access to the US market for its proposed V-band satellite system would increase competition for the broadband services proposed to be provided by such systems to American consumers, particularly in underserved areas, offer a greater likelihood that such a large system is able to fulfill its ambitions and deploy the proposed services,” the FCC added.

However, the FCC insists that OneWeb pay a “surety bond” by September 26th this year and also launch 50 percent of the proposed satellites no later than August 26th 2026 and complete the constellation by August 26th 2029.

“We are pleased to hear the FCC granted our V-Band application. The V-band is critical for next generation satellite broadband services. OneWeb looks forward to the future growth opportunities this approval will enable as we commercialize our spectrum and execute on our mission to bring low latency connectivity to communities, governments, businesses, and people in the US and around the world,” a OneWeb spokesperson said.

Chris Forrester

News stories authored by journalist Chris Forrester,
who posts for the Advanced Television infosite and is also a
Senior Contributor for Satnews Publishers.

Filed Under: News

Final Prep Underway For Arianespace’s Vega Smallsat Rideshare Mission

August 28, 2020 by editorial

Final preparations are underway for Arianespace’s historic Vega rideshare flight with Europe’s Small Spacecraft Mission Service (SSMS) dispenser system, which has been rescheduled within a launch window from September 1 to September 4, following multiple weather-related postponements.

SSMS provides a new dedicated European rideshare solution with Vega that is modular and capable of accommodating a full range of payload combinations. Vega’s upcoming Proof of Concept mission – designated Flight VV16 in Arianespace’s launcher family numbering system – was conceived in the context of ESA’s LLL (Light satellite, Low-cost, Launch opportunity) initiative.

VV16’s mission – with 21 customers from 13 countries on board – will serve different types of applications: Earth Observation (EO), telecommunications, science, technology/education, and more.

Hardware development was funded by the European Space Agency (ESA); while the European Union contributed to financing of the flight. The combined European efforts will enhance Arianespace’s response to the rideshare demand with solutions that are perfectly suited to the flourishing smallsat market.

Artistic rendition of the Vega launch vehicle is courtesy of Avio.

Italy’s Avio is the production prime contractor for Vega, delivering the integrated launcher to Arianespace. Avio also developed the small satellite delivery system and the specific mission preparation process for Flight VV16, performing these tasks under ESA leadership. Design authority for the multi-payload dispenser system is SAB Aerospace s.r.o. (CZ) of the Czech Republic.

Filed Under: Featured, News

NewSpace Prepares for Lift-Off in South Australia

August 27, 2020 by editorial

The Prime Minister of Australia Scott Morrison, center, joined Lloyd Damp of Southern Launch, left, and Ian Spencer of DEWC Systems at the 9th Australian Space Forum in Adelaide for the announcement of the first payload to be launched from South Australia. Photo: James Knowler

Southern Launch will host the September 15 launch at its Koonibba Test Range (KTR) 40km northwest of Ceduna in the far west of South Australia on land leased from the Koonibba Community Aboriginal Corporation.

Launched northwards, the rocket will carry a small payload into the thermosphere where it will be released from the rocket to fall gently back to Earth under a parachute where DEWC Systems, escorted by a local Aboriginal Cultural Monitor, will recover and examine it.

The rocket itself will be unlike any rocket ever launched in Australia. Designed and built in the Netherlands by T-Minus Engineering, the DART rocket will weigh only 34kg, have one rocket engine, yet will have two rocket stages.

The rocket will burn out of fuel 6 seconds after lift-off and be traveling at Mach 5, or approximately 1.5 kilometers per second.

The launch also marks the start of NewSpace launches from Australia.

“This event is more than just Australia’s first launch, but a testament to Australian companies coming together with our international partners to push the boundaries of the conceivable and inspire future generations to be spacefarers,” Southern Launch CEO Lloyd Damp said.

The rocket will be a symbolic launch of NewSpace in Australia, the name given to the emerging small satellite industry, which will open up a range of new capabilities such as monitoring the seas for piracy, observing the growth of crops across the world, or connecting rural farmers to a distant water tank through the Internet of Things (IoT).

The miniature payload, built by SA electronic warfare company DEWC Systems, is a prototype electronic warfare unit capable of detecting radar signals.

Future versions of the payload will go into orbiting satellites and is part of a $3.1 million contract to advance its space tactical sensor system for the Australian Defence Force.

The Miniaturised Orbital Electronic Warfare Sensor System (MOESS) project will involve a constellation of about 20 CubeSats fitted with a range of sensors and monitoring equipment to detect radio frequencies and signals such as radars to offer a view of ship and aircraft movements from above.

It aims to provide the first fully Australian developed, owned and operated space based Electronic Warfare capability. Previously, Australia has relied on its allies to help provide these capabilities.

DEWC Systems CEO Ian Spencer said the time was right for industry to be bold and to lead.

“This mission is an important step to developing true sovereign, space capability for Defence and is an excellent way to showcase the power of collaboration between innovative Australian industry partners,” Spencer said.

“The challenging question for Australia now, isn’t can industry deliver, it is can government and regulators keep up?”

The front “Dart” section, emblazoned with artwork developed by the Koonibba Community, will detach from the rocket and continue into the thermosphere while the larger rocket motor will fall back to earth.

Koonibba Community Aboriginal Corporation chief executive officer Corey McLennan said the corporation had been actively engaged with Southern Launch throughout the process and was excited that the venture had come to fruition.

“Our people continue to have a strong connection with the land, the sea and the sky, so with Southern Launch developing a rocket test range on our lands, we are excited to develop a partnership role in developing Australia’s space future,” he said.

South Australia’s history of rocket launches dates back to the 1950s when US, British, European and Australian scientists launched dozens of long-range missiles and sounding rockets from ranges in Woomera, north of the new launching site.

Next month’s Koonibba launch will also be a significant milestone in South Australia’s leadership of the Australian space industry, which has gained significant momentum since it was announced Adelaide would host the new Australian Space Agency in 2018.

South Australia is also home to major Tier 1 defense companies and several emerging space startups, including Fleet Space Technologies, Inovor Technologies and Myriota, which have all announced new IoT initiatives in the past year.

Southern Launch is also building a rocket launchpad on the Eyre Peninsula in South Australia.

The 1190-hectare Whaler’s Way site is about a 35-minute drive from the regional town of Port Lincoln and will be used for launching small satellites over the Great Australian Bight into sun-synchronous or polar orbit.

By Andrew Spence, TheLeadSouthAustralia

Filed Under: News

China To Launch Ethiopia’s Second China-Funded Satellite

August 26, 2020 by editorial

The first Ethiopian satellite launch by China.

Ethiopia is completing their planning for the launch of the nation’s second satellite into orbit next month, just eight months after the launch of the country’s ETRSS-1 satellite last December.

The country’s space ambitions, backed by China’s funds and satellite launch sites, has seen Ethiopian engineers design the satellites in an initiative co-funded by both countries. The ET-SMART-RSS Earth Observation (EO) smallsat is scheduled to take off from the Wenchang Spacecraft Launch Site, in Wenchang, Hainan province.

Ethiopia’s ETRSS-1 satellite, which is manned by a team of engineers at the Entoto Observatory and Research Center on the outskirts of the capital Addis Ababa, analyzes weather patterns to extract data and enhance the country’s preparedness in the case of drought.

The country’s collaboration on space projects with China was signed into agreement in 2016, by Ethiopia’s then minister of Science and Technology, the current Prime Minister Abiy Ahmed.

Ethiopia’s ETRSS-1 satellite launch sent the African continent’s 41st satellite into orbit. Months earlier, Sudan’s successful debut launch made headlines, as had Rwanda’s in February of 2019. Egypt leads Africa with nine successful satellite launches since 1998, four of them coming last year.

The country’s second remote sensing satellite will weigh 8.9 kilograms and be of improved resolution — costs amounting to $1.5 million are being covered by the ESSTI’s partner on the project, the Beijing Smart Satellite Space Technology.

According to ESSTI’s Director General, Dr. Solomon Belay, Ethiopia is aiming to reach 10 satellites launched by the end of the decade.

Artistic rendition of Ethiopia’s ETRSS-1 satellite.

Filed Under: News

OHB Group Signs Rocket Lab For Early 2021 Launch

August 26, 2020 by editorial

OHB Group has signed a contract for a dedicated launch on an Electron rocket with Rocket Lab — the launch was procured through OHB Cosmos International Launch Service GmbH, the launch service division of the OHB Group.

The mission will launch a communications satellite for an OHB customer and is scheduled for lift-off in early 2021 from Rocket Lab Launch Complex 1 on New Zealand’s Māhia Peninsula. This is the first launch contract between Rocket Lab and OHB, one of Europe’s leading space systems integrators which traditionally offers rideshare opportunities on large launch vehicles.

The mission will represent a rapid turnaround time of just six months between contract signing and launch. This streamlined path to launch, combined with Rocket Lab’s ability to deliver smallsats to precise and unique orbits, were key factors in OHB selecting Rocket Lab as the launch provider.

The OHB mission will be one of the first missions in a busy year of launch activity for Rocket Lab, with the company booked for launches every two weeks in 2021 across its two launch sites, Launch Complex 1 in New Zealand and Launch Complex 2 in Virginia.

Executive Comments

Peter Beck

Peter Beck, Rocket Lab’s founder and CEO, said the contract highlights the growing need that small satellite operators have for responsive, dedicated launch and noted, “As a respected leader in space, OHB Group has been providing access to orbit through rideshare opportunities and dedicated launches on medium and large size rockets for many years. We’re excited to be enabling a new capability for OHB and its mission partners by delivering rapid turnaround, dedicated small satellite launch on Electron. Missions like this one put small satellite operators in the driver’s seat, giving them control over their launch schedule and orbit, on their terms.”

“OHB delivers an unmatched delivery time to its customer with this project. This would not have been possible without the impressive reactivity of Rocket Lab“, said Lutz Bertling, Chief Strategy & Development Officer OHB Group.

“For this mission, OHB COSMOS International Launch Service is not only providing the launch service procurement like for several previous OHB missions in the last 25 years. In the New Space Era we are leading this specific spacecraft, payload and mission development supported by OHB divisions in Sweden, Germany and Czech Republic,” said Indulis Kalnins, OHB Cosmos Managing Director.

Filed Under: News

Redwire Names New Chief Growth Officer and EVP Of Space Infrastructure

August 25, 2020 by editorial

Redwire has named Al Tadros as the firm’s Chief Growth Officer and EVP of Space Infrastructure, effective August 24.

Al Tadros

As a thought leader in on-orbit servicing, assembly and manufacturing, Mr. Tadros will advance development, increase adoption, and build momentum for Redwire’s mission-enabling capabilities within civil, defense and commercial space sectors. Tadros will lead Redwire’s long-term growth strategy and business development activities, positioning the company for accelerated growth and market expansion. He will report to Redwire Chief Operating Officer Andrew Rush.

Executive Comment

“Al is a respected aerospace thought leader and executive with a proven track record in maturing satellite and space systems programs for exploration and commercial benefits while also driving revenue growth,” said Andrew Rush, COO of Redwire. “By integrating civil space and national security interests, prioritizing our customer’s mission objectives, and advancing our cutting-edge technologies, Al’s leadership will position the company as a global leader in space infrastructure solutions.”

Tadros joins Redwire from Maxar, a leading provider of Earth Intelligence and Space Infrastructure solutions, with $1.7 billion dollars in annual revenue. Tadros served as Vice President of Space Infrastructure and Civil Space at Maxar, formerly Space Systems/Loral (SSL), since 2011. In that role, he led the expansion of Maxar’s satellite business among civil and commercial space customer segments, including securing a $375 million contract for Maxar to develop a solar electric propulsion spacecraft for NASA’s lunar Gateway.

Tadros has more than 30 years of experience in the aerospace industry, spending the past nine years at Maxar as a Vice President. Prior to that, he held leadership positions in program management, systems engineering, and spacecraft guidance navigation and control engineering.

Tadros holds a master’s degree in mechanical engineering and a bachelor’s degree in aerospace engineering from Massachusetts Institute of Technology.

AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation and Specialty Industrial markets, launched Redwire in June of 2020 through the combination of portfolio companies Adcole Space, Deep Space Systems and Made in Space. These companies were acquired by AEI earlier this year.

Filed Under: News

RBC Signals Ties Up With Momentus For Global Ground Services SATCOM

August 25, 2020 by editorial

RBC Signals has been engaged by Momentus for satellite communication (SATCOM) services — this agreement calls for Momentus to use assets within the RBC Signals global ground station network for SATCOM services in support of a series of upcoming Momentus missions that are scheduled to start in 2021.

Momentus is a Space Transportation and Space Logistics company employing new and proprietary technologies, including water plasma propulsion, to enable “revolutionary” low-cost orbital shuttle and charter services. The core of Momentus’ business is Vigoride, a transfer vehicle delivering smallsats to custom orbits in LEO.

Artistic rendition of the Momentus Vigoride in space.

The 2021 missions that RBC Signals will support are important for multiple companies and researchers whose satellites will be delivered to orbit on larger rockets via ridesharing. RBC Signals’ support and technology will help power Momentus’ value proposition of transporting these smallsats to a final intended orbit in an extremely cost-efficient manner.

Momentus will be able to schedule access to RBC Signals’ network ground stations seamlessly through ROSS, which is RBC Signals’ intuitive API-based interface for scheduling antenna time.

Executive Comments

Christopher Richins

“Momentus is innovating the transportation of satellites in space and our team is thrilled to support several of their future missions,” said Christopher Richins, CEO of RBC Signals. “With nearly 80 antennas in over 50 locations across the globe, the RBC Signals network has the flexibility to serve Momentus missions and the game-changing delivery services they provide.”

Rob Schwarz

“Momentus is excited to be working with RBC Signals as our ground solution provider for our Vigoride services starting in 2021,” added Rob Schwarz, CTO with Momentus. “RBC Signals is a great fit for us because they offer outstanding value and simplicity of integration. Their global infrastructure provides access to an extensive and diverse suite of ground terminal locations and capabilities, supporting Momentus’ mix of transportation and Satellite as a Service offerings. Ultimately this allows us to tailor the mission solution for our customers easily, allowing us to better serve their needs.”

Filed Under: Featured, News

Capella Space Partners With Rocket Lab For Sequoia SAR Smallsat Launch

August 25, 2020 by editorial

Capella Space has announced that the company is one step closer to making their mission vision a reality — the firm is partnering with Rocket Lab to launch Sequoia, the first, publicly available satellite in the company’s planned constellation — the two-week launch window opens on August 26, 2020.

The company is especially proud of the team for achieving this milestone in spite of the challenges of COVID-19. The pandemic has impacted much of the economy, and the space industry is no exception. COVID-19 has affected Capella Space’s supplier network as well as the initial launch plans and required the satellite team to work in shifts in reduced group sizes. However, despite all the challenges, the team was able to get Sequoia across the world to the Rocket Lab launch site in New Zealand and is also on track for manufacturing the rest of the constellation as the other launches are approaching.

Sequoia is a 100 kg class smallsat and will be positioned in a 45-degree inclination. This mid-inclination allows the company to give customers immediate access to rapid coverage of important regions, including the Middle East, Korea, Japan, Europe, South East Asia, Africa, and the U.S. Like all of the Capella satellites, Sequoia will be able to see through clouds and in the dark and detect sub-0.5 meter changes on Earth’s surface. When fully deployed, this satellite constellation will offer hourly coverage of every point on Earth.

Capella Space worked with Rocket Lab to name this mission “I Can’t Believe It’s Not Optical,” a reference to the firm’s SAR satellite technology, which overcomes the limits of the optical imagery used in other commercial satellites. Unlike optical, SAR can see through clouds, in all weather conditions and even at night. The Capella Space team voted on the mission name in June, ultimately choosing it as a nod to this satellite technology and the infamous advertisement campaign for “I Can’t Believe It’s Not Butter.”

This launch marks a significant milestone for Capella and the company is looking forward to the next few weeks and days as preparations continue for the launch.

Filed Under: News

XploreMR Reports That Smallsat Adoption Will Soar In The Defense Sector

August 24, 2020 by editorial

The global small satellite market is anticipated to proliferate at a healthy pace and surge past valuation of US$ 8.9 billion by the end of the forecast period (2018 – 2028), according to a new market study by XploreMR — the growth of the market is mainly driven by soaring demand in earth observation services applications in numerous sectors such as agriculture, energy, civil engineering, oil & gas, and others.

Furthermore, smallsats are gaining remarkable traction in the defense sector for applications such as medium-resolution imagery, tactical communication, and geospace and atmospheric research. In addition, smallsats have a competitive advantage over conventional satellites, on the back of their compact size that requires lesser development and production time, which subsequently reduces the manufacturing and operations costs. Backed by the aforementioned factors, the global smallsat market is set to bestow an incremental opportunity of US$ 2.31 to market players during the forecast period.

Some of the major growth drivers of the small satellite market include high expenditure by government and private organizations for the development of novel technologies and high demand for satellites in research and development purposes (R&D) in various sectors that mandate studying earth and other natural factors.

Furthermore, surging adoption of LEO and MEO services, where smallsats are highly preferred, is also acting as a predominant growth attribute. However, the growth of the market is not free of hindrances. Issues such as space debris problems, lack of skilled working personnel, and multiple regulatory limitations continue to hold back the market from reaching its full potential, but. On a positive note, the emergence of advanced space technology and favorable government policies for space exploration activities will continue to bolster the adoption of small satellites in the years to come.

Nanosatellites are forecasted to remain the most sought-out smallsat types, holding the majority of market share in the global value through the forecast period. The high demand for nano-satellites is mainly attributed to their compact size and low weight, which enables the launch of multiple satellites for different applications in a single-vehicle launcher.

Based on the end-use the application, the defense sector is foreseen to drive the majority of revenue, backed by increasing investments by national governments across the world to safeguard their respective nation’s defense standpoint. Smallsats are used in multiple defense applications such as tactical communication, and geospace and atmospheric research. On the other hand, the adoption of small satellites in the civil and commercial sector is expected to witness an uptick as numerous organizations extensively invest in R&D activities.

On the regional front, North America will reign supremacy over the global market, accounting for more than 55% of market value. Furthermore, the region is foreseen to register a stellar value CAGR of 13.1% through the forecast period and remain the leading regional market for small satellites.

The region’s dominance is predominantly attributed to increasing collaborations with the US government, and the strong presence of major market players. Furthermore, increasing usage in procuring satellite images, burgeoning demand for surveillance applications in the defense sector, will complement the market growth. Backed by these factors, North America is anticipated to bestow a revenue opportunity of more than US$3.4 billion during the forecast period.

Closely following North America, Western Europe is projected to create a total incremental $ opportunity of US$1 billion by the end of the forecast period. On the other hand, Asia Pacific is anticipated to contribute to nearly half a billion dollars in sales, backed by increasing infrastructural development in emerging economies such as India and China.

Some of the major market players in the global small satellite market include The Boeing Company, Aerospace Corporation, Airbus Defense and Space, Lockheed Martin Corporation, and Thales Group.

A sample copy of this in-depth report may be requested via this direct link…

Filed Under: News

Scotland’s Launch Site + Pressure On Nilesat + OneWeb Reorg Plan Receives Objections

August 24, 2020 by editorial

Scotland’s ‘Space hub Sutherland’ has gained planning approval to build the rocket launch facility.

Development agency Highlands and Islands Enterprise (HIE) intends to create Space Hub Sutherland on land owned by Melness Crofters Estate on the A’ Mhòine peninsula, south of Tongue. HIE had submitted plans in February this year (2020), including an extensive environmental impact assessment. Following a period of public consultation, these were considered on June 26 by the Highland Council North Planning Applications Committee.

Although the committee was minded to approve the application, the council was required formally to notify Scottish Ministers, as part of arrangements to ensure government overview of spaceport planning applications.

On August 3rd, the Scottish Government announced that ministers did not intend to intervene and the council was free to determine the outcome of HIE’s application, which it has now done and publicized on August 19th.

The decision means that small commercial satellites and launch vehicles designed and manufactured in Scotland could be taking off from Sutherland within the next few years. Up to 12 launches a year will be permitted from the spaceport, which will include a control center, 2.5 km of road and a launch pad, occupying a total of just over 10 acres of the 740-acre site.

HIE has approved a budget of £17.3 million to develop Space Hub Sutherland, including funding from the UK Space Agency and the Nuclear Decommissioning Authority. Planning approval is subject to a set of 34 conditions, including measures to ensure operations are carried out safely and strict protection measures are implemented and monitored to protect the natural environment.

Ivan McKee

Scottish Government Innovation Minister Ivan McKee said, “I very much welcome the decision of the Highland Council to approve the planning application for Space Hub Sutherland, which will support around 250 well-paid jobs in the Highlands and Islands, including 61 in Caithness and Sutherland. This is the first of Scotland’s spaceport projects to clear the planning process and it represents a significant step forward for both the project and Scotland’s aspiration to offer the full end to end capability for manufacturing and launching small satellites and analyzing their data. The space sector has a key role to play in the fight against global climate change and this milestone has been achieved through the hard work of the Sutherland team in partnership with the local community, leading experts and public bodies.”

Graham Turnock

Graham Turnock, CEO, UK Space Agency, added, “Growing our domestic launch capability will bring new jobs and investments to communities in all corners of the UK. Space Hub Sutherland is an integral part of these plans and today’s news strengthens our position as Europe’s leading destination for small satellite launches. “The UK government is committed to minimising the environmental impact of spaceflight activities and is developing a National Space Strategy which recognises the unique contribution of satellite technology to our understanding of global issues like climate change.”

David Oxley

David Oxley, Director of Business Growth with HIE, also welcomed the council’s decision. “The UK’s space ambitions present a wonderful opportunity for the Highlands and Islands,” he said. “A vertical launch spaceport is a key piece of the national jigsaw, along with the design and manufacture of satellites and launch vehicles, that will ensure Scotland can derive maximum economic benefits from this growing and exciting sector. Another important aspect is the role that satellites launched from Sutherland will play in gathering data that will help people around the world to understand and address the impacts of climate change. “In developing our plans, we have always been very mindful of the environmental challenges presented by a project of this kind. Part of our ambition is to create the world’s most low-carbon space centre and the conditions applied to the planning approval will help us make that a reality.”

Nilesat has continued to see pressures on its revenues and net profit.

The Cairo-based satellite communications company reported a 17 per cent reduction in its net profit for the first six trading months of 2020.

According to its statement filed to the Egyptian Stock Exchange, the satellite operator said its net profit stood at $19,564,668 (EG Pounds 311,119,307) in H1 2020, compared to $23,812,278 in H1 2019.

The financial results of NileSat for Q1 2020 showed net profits of $10.8 million down by 5 per cent from $11.38 million in the year-ago period.

NileSat’s revenues declined to $32.36 million in the January-March period, compared to $32.86 million in the same period in 2019.

It is worth mentioning that during the full year 2019, NileSat posted net profits of $42.53 million, down 20.45 per cent from $53.46 million in 2018.

The official Committee of OneWeb’s unsecured creditors is objecting to the current Chapter 11 exit reorganization plan for OneWeb.

In a filing to the US Bankruptcy Court, they argue that the disclosure statement from OneWeb “lacks adequate information of particular importance to the unsecured creditors.” The submission to the Court stresses that they are in favour of OneWeb proceeding as a “going concern” but additional information must be supplied.

The Committee argues that, superficially, the OneWeb plan is only the result of negotiations with the debt-holders of $1.6 billion of (potentially) ‘debt for equity’ promissory Notes, and the incoming Bid100 Ltd consortium of Bharti and the UK Government which is the sponsor of the restructuring scheme.

The Committee, in its filing, stated, “The truth is that (even apart from the exclusion of the Committee), the Proposed Plan was negotiated by two parties, not three. The Debtors are controlled by the Purported Noteholders, who hold over 70 per cent of the Debtors’ equity as well as a controlling majority of the Debtors’ board of directors, and there is no evidence that any steps were taken or corporate formalities observed to separate what is best for the Debtors (and their estates) from what is best for the Purported Noteholders. Worse, it has become clear that the Debtors (and their insiders) have no qualms about using the proposed transaction with BidCo (the “BidCo Transaction”) — specifically, the threat of the loss of this transaction—as a sword to extract inappropriate concessions from unsecured creditors and to try to “box in” the Court with a Hobson’s choice: confirm an unconfirmable plan or lose the BidCo Transaction.”

The filing continued, “The Debtors can conduct plan negotiations in whatever manner they choose and, as long as exclusivity is in place, file whatever plan they see fit. However, having held their negotiations and having filed their Proposed Plan, the Debtors must now demonstrate that their Proposed Plan is confirmable on its face and that they have provided adequate information and disclosures about the agreements they have reached, for all practical purposes, with themselves. The Debtors fail on both accounts.”

The Committee argues that the plan also includes “sweeping” approval for “millions of dollars” to be paid in the form of retention and severance bonuses to OneWeb executives.

News stories authored by journalist Chris Forrester, who posts for the Advanced Television infosite and is a Senior Contributor for Satnews Publishers.

Filed Under: News

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