Home | Business News | Browse by Publication | P | PR Newswire

Noteholders File Involuntary Chapter 11 Petition Against Satelites Mexicanos (Satmex).

Publication: PR Newswire
Publication Date: 26-MAY-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Action Taken to Facilitate Debt Restructuring, Provide New Financing, and Ensure Company's Continued Viability

NEW YORK, May 26 /PRNewswire/ -- A group of secured and unsecured noteholders, represented by Wilmer Cutler Pickering Hale and Dorr LLP and Akin Gump Strauss Hauer & Feld LLP, respectively, holding in excess of US$379 million of outstanding notes of Satelites Mexicanos, S.A. de C.V. ("Satmex" or the "Company"), the leading Mexican satellite operator in the Americas, today filed an involuntary Chapter 11 petition against Satmex in the U.S. Bankruptcy Court for the Southern District of New York.

The noteholders have reached an agreement on a comprehensive debt restructuring that is supported by creditors holding more than two-thirds in amount of the Company's liabilities, and have requested that the...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
oneworld Debuts New Downloadable Timetable; Easiest Way to Check Sched..., May 26, 2005
Crown Castle International Raises $1.9 Billion in Senior Secured Tower..., May 26, 2005
SOURCECORP(R) to Present at 33rd Annual SG Cowen Technology Conference..., May 26, 2005
LaserCard Corporation Announces $500,000 Order for 'Laser Visa' Border..., May 26, 2005
Credence Reports Results for Second Quarter Fiscal Year 2005., May 26, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.