PARIS — Satellite fleet operator Avanti Communications Group plc is back on a cliff edge and facing a British Chapter 11-type restructuring as a bond payment deadline approaches that would trigger a broader default.
Avanti said it was in “advanced discussions with a financing source” to cover the debt payment, due Feb. 8, but a recent change in Britain’s bankruptcy code could make a Chapter 11-type filing more appealing than a refinancing on onerous terms.
London-based Avanti, which operates five satellites in geostationary orbit . . .
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