Centerbridge, Black Diamond Strike Deal on SpeedCast Bankruptcy

Centerbridge Partners and Black Diamond Capital Managementstruck a deal to end their court battle over how to reorganize the bankrupt satellite communications company, SpeedCast International Ltd. lawyers told a federal judge Thursday.

The investors declined to outline the agreement in court until they have a final written version, lawyers for the companies told U.S. Bankruptcy Judge Marvin Isgur, who is based in Houston. The company will make the deal public in a court filing in the coming days.

“We’re pleased with the results,” SpeedCast attorney Gary Holtzer said during a court hearing held by video.

Black Diamond has ...