Intelsat creditors support year-end bankruptcy exit plan

Intelsat aims to emerge from Chapter 11 bankruptcy protection as a private company by the end of this year, having secured the support of around three-quarters of its creditors for a new reorganisation plan.
The satellite company, which filed for Chapter 11 in May last year essentially to fund the clearing costs associated with the US C-band auction, said its latest reorganisation plan will reduce its debt to US$7 billion from close to $15 billion and position it for long-term success. The plan