Satellite Operator Ligado Networks Files for Bankruptcy (2)

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.

Under the restructuring support agreement, AST SpaceMobile Inc. reached a deal with Ligado ...