CORRECT: Intelsat Gets Court Approval to Tap $1b in Bankruptcy Financing

(Corrects details of hearing on June 30 in third bullet.)Intelsat SA can have access to its $1b debtor-in-possession loan, including immediate access to $500m of liquidity, to finance its operations during bankruptcy, a judge ruled.

• Bankruptcy Judge Keith Phillips approved the motion in an omnibus hearing Tuesday
• The bankrupt satellite company also received court approval for a raft other motions, including access to its cash management system and cash collateral, as well as its C-Band clearance motion
• A final hearing is scheduled for June 30 on the International Telecommunications Satellite Organization’s motion for relief from automatic stay
• The ...