Intelsat’s Chapter 11 exit plan falters

Intelsat is asking its Chapter 11 bankruptcy court for more time to deliver its exit plan from bankruptcy.

A hearing scheduled for April 14th will see Judge Phillips asked for more time. Intelsat says the additional time is necessary to ensure that it maintains control of its case, which is particularly complicated because of the dozens of subsidiary and sister businesses under various Intelsat names all of which are affected by the bankruptcy.

Source: Intelsat’s Chapter 11 exit plan falters