Intelsat ‘Very Close’ to Reaching Consensual Bankruptcy Plan

Intelsat SA is in the final stages of negotiating a fully consensual bankruptcy plan, following a trial that lasted over a week that had as many as a dozen parties objecting to aspects of the restructuring, a lawyer for the company said in a court hearing Thursday.

• “We think we’re very close,” Steven Serajeddini, a partner at Kirkland & Ellis, told Judge Keith Phillips. He asked for a roughly one-hour recess to finalize the deal
• The bankrupt satellite company also resolved an objection to the first-lien settlement from the Jackson crossover creditor group and the official committee ...