AMERICAS DISTRESS DAILY: Ligado Networks Files for Bankruptcy

Ligado Networks filed for bankruptcy after the satellite company struggled to address near-term liabilities, including more than $4 billion of debt that matured in November 2023.

Ligado, based in Virginia, listed both assets and liabilities of $1 billion to $10 billion in a Chapter 11 petition filed in Delaware. The filing lets Ligado keep operating while it works on a plan to repay creditors. Inmarsat Global Limited and Boeing Satellite Systems Inc were listed in the filing as the two largest unsecured creditors for an undisclosed amount.

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