Ligado, Lenders Look to Debt Restructuring After Court Ruling

Ligado Networks and its creditors are holding confidential talks on how to restructure the satellite company’s debt stack, according to people with knowledge of the matter, who asked not to be named because they aren’t authorized to talk about it.

Ligado struggled to pay off or refinance more than $4 billion of first-lien bonds that were set to mature last year, leading to a forbearance agreement.

The talks come as Ligado is pushing ahead with a lawsuit it’s hoping could result in a financial windfall, the people said. Last month, a federal judge ruled the firm can proceed to claim ...