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Intelsat, SpeedCast Reach Services Deal, Aiding Reorganization

July 6, 2020, 7:48 PM

Intelsat SA agreed to continue providing satellite services to bankrupt telecom provider SpeedCast International Ltd. and waive its $44 million unsecured claims.

Intelsat, which is undergoing its own bankruptcy proceedings, will provide “satellite bandwidth capacity, uplink and other services” to SpeedCast under unspecified terms, according to a motion Intelsat filed July 3 with the U.S. Bankruptcy Court for the Eastern District of Virginia.

Intelsat is a critical vendor that provides bandwidth uplink services to the majority of SpeedCast’s customers, SpeedCast said in a separate deal-approval request filed July 1 with the U.S. Bankruptcy Court for the Southern District of Texas. ...