PARIS — Satellite fleet operator Intelsat has emerged from 21 months of Chapter 11 bankruptcy reorganization, selected a new board of directors and will have a new chief executive arriving on April 4.
A little over half its $15 billion in debt was wiped out during the Chapter 11 process, leaving $7 billion. The company has received $1.2 billion in cash for having completed, on time, the Phase One C-band clearing mandated by the U.S. Federal Communications Commission (FCC). It stands to receive another $3.7 billion . . .
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