Ligado to Pay Inmarsat $568 Million to End Spat Over Radio Waves

Ligado Networks agreed to pay its business partner $568 million to resolve a contract dispute that had threatened the satellite operator’s plan to cut debt and reorganize in bankruptcy court.

The agreement with Inmarsat Global Limited clears one of the two main hurdles to Ligado’s plan to restructure its $8.5 billion in debt. Inmarsat had claimed that its rights were being threatened by Ligado’s proposed wireless spectrum deal with AST SpaceMobile Inc.The new deal that both companies have agreed to will now come before a bankruptcy judge in Wilmington, Delaware, for approval later this month, Ligado said in an ...