The database designed with research in mind. Cruise & Ferries. Speedcast has developed and evolved VSAT and IT communications solutions for over 20 … Speedcast Files Plan of Reorganization and Disclosure Statement Outlining Clear Path to Emergence from Chapter 11. 3. Speedcast International Limited, a publicly-traded Australian company headquartered in Houston and 32 affiliates (the “debtors”) filed rare freefall bankruptcy cases in the Southern District of Texas earlier this week.In a week where another 4.4mm people filed for unemployment, one thing seems abundantly … The Company suffered from a number of challenges leading to these chapter 11 cases, including, among others, increased industry competition and consolidation, heavy operational expenditure requirements, the seasonal nature of the business, general litigation, and irregular management turnover. In the years and months leading up to the Petition Date, the Company initiated … Speedcast International Limited, a major provider of satellite connectivity to the cruise industry, has announced that its plan of reorganization has been confirmed by the U.S. Bankruptcy Court for the Southern District of Texas . The chapter 11 cases were jointly administered for procedural purposes under Case No. (the “Revised Disclosure Statement”). Docket Entries by Month. The bankruptcy was taking place in the US Bankruptcy Court for the Southern District of Texas, and Judge Marvin Isgur approved the creditor settlement last week. Basic Information: SPEEDCAST INTERNATIONAL LIMITED filed a chapter 11 bankruptcy case on 04-23-2020. Centerbridge’s proposed US$395 million equity investment provides the opportunity for Speedcast’s existing secured lenders to participate in the equity commitment on a fully pro-rata basis to support Speedcast’s emergence from its reorganization under Chapter 11 of the US Bankruptcy Code. Apr 23: 1 Petition Chapter 11 Voluntary Petition Non-Individual Fee Amount $1717 Filed by SpeedCast Americas, Inc.. (Perez, Alfredo) (Entered: 04/23/2020) Apr 23: 2 Emergency Motion of Debtors for Order Directing Joint Administration of Chapter 11 … April 22, 2020. Centerbridge Partners, one of its largest lenders, has committed US$395M in equity investment. Docket Entries by Month. Learn More. Speedcast's chapter 11 case is being heard in the United States Bankruptcy Court for the Southern District of Texas. Docket Entries by Month. On December 15, 2020, the Bankruptcy Court entered an order confirming the Second Amended Joint Chapter 11 Plan of CEC Entertainment, Inc. and Its Debtor Affiliates, dated November 3, 2020 [Docket No. Search Claims. The U.S. Bankruptcy Court for the Southern District of … Speedcast said it will exit Chapter 11 bankruptcy with $500 million and Joe Spytek as its new CEO. PARIS — Mobile satellite services provider Speedcast International Ltd. is expected to exit Chapter 11 by mid-March following the Jan. 22 approval of a restructuring plan by its bankruptcy court.. Australia’s Speedcast International Files for Bankruptcy Satellite-communications company looks to restructure in chapter 11 as coronavirus batters … (Perez, Alfredo) (Entered: 04/23/2020) Apr 23: 2 Emergency Motion of Debtors for Order Directing Joint Administration of Chapter 11 … Apr 23, 2020: 1 Petition Chapter 11 Voluntary Petition Non-Individual Fee Amount $1717 Filed by SpeedCast International Limited. Speedcast said those … Speedcast also announced that it has received a commitment for up to US$ 90 million in new money debtor-in-possession financing from the holders of its outstanding term loan and revolver debt. Since entering Chapter 11 bankruptcy protection, Speedcast has negotiated refinancing and creditor payments, at first to cover continuous operations and now for its reorganisation. Speedcast launches new IoT platform . There are 4 newer docket entries. in Communications & Cyber Security. Log In, subscribe now, or purchase this single case to see the entire docket list. 1246]. § 1112(b) (I) Dismissing the Cases; (II) Converting the Cases to a Chapter 7 Liquidation; or (III) Appointing a Chapter 11 Trustee (Docket No. Chapter 11 petitions were filed on 23 April on behalf of Speedcast International and certain US and international subsidiaries. Get access to the case docket, filed documents, and contact information immediately after signing up. Apr 23, 2020: 1 Petition Chapter 11 Voluntary Petition Non-Individual Fee Amount $1717 Filed by SpeedCast Communications, Inc.. (Perez, Alfredo) (Entered: 04/23/2020) Apr 23, 2020: 2 Emergency Motion of Debtors for Order … Speedcast shareholders are expected to be the big losers after the company filed for Chapter 11 bankruptcy protection in the US to protect its satellite communications business while … Create the ultimate onboard experience for passengers and satisfy crew with land-like connectivity. June 11, 2020 Five Questions Every Shipowner Should Ask Their Maritime Connectivity Provider. The company voluntary filed for bankruptcy protection and … Log In, subscribe now, or purchase this single case to see the entire docket list. About Speedcast … Search Court Docket. There are 40 newer docket entries. A redline of the changed pages of the Revised Disclosure Statement marked against the Disclosure Statement is attached hereto as Exhibit A. Search one integrated database of the most important chapter 11 cases comprising over 250 cases and almost one million unique documents. The actual exit will be in mid-March. … Motion of Krzysztof Majdak and Philippe Godinea for Entry of an Order Pursuant to 11 U.S.C. This followed the company receiving a commitment for up to US$90M in new money in debtor-in-possession financing from the holders of Speedcast’s outstanding term loan and revolver debt to keep its operations going. On May 13, 2020, Intelsat S.A. and certain of its subsidiaries (collectively, the “Company”) filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, to position the Company for long-term success. 20-33163 (MI). This is a fun one. Cruise & Ferries . Log In, subscribe now, or purchase this single case to see the entire docket list. Satellite communications provider Speedcast is seeking to sell itself to one of its largest debt holders as a means of exiting Chapter 11 bankruptcy protection. Satellite communication provider SpeedCast International Ltd. filed for Chapter 11 bankruptcy after a collapse in oil prices and the halting of … Australia-based speciality satellite connectivity business Speedcast is ready to exit its Chapter 11 bankruptcy. Terms include a $500 Million equity investment and a reduction in secured debt of $634 million Sydney – October 10, 2020 – Speedcast International Limited (ASX:SDA) today announced that it has filed a Plan of Reorganization and Disclosure … It bought Harris CapRock for $425 million, UltiSat (about $100 million) and Globecomm ($135 million). Stephe Wilks further commented, “The Board is incredibly appreciative of Peter’s efforts in stabilising Speedcast through this challenging period.” Speedcast announced its decision to recapitalize its business through voluntary Chapter 11 proceedings on April 23, 2020. The Effective Date of the Plan occurred on December 30, 2020 [Docket … Those funds, combi ned with its existing cash flows, will help to … 1 A complete list of the Debtors in these chapter 11 cases may be obtained on the … Cette procédure est disponible pour tous les types d'entreprises ainsi que pour les particuliers, bien qu'elle … The ruling was made possible by a December settlement between Speedcast’s two largest creditors — Centerbridge Partners L.P. and Black Diamond Capital … 20-32243 (MI) LIMITED, et al., ... (Docket No. ) Apr 23: 1 Petition Chapter 11 Voluntary Petition Non-Individual Fee Amount $1717 Filed by Speedcast Netherlands B.V.. (Perez, Alfredo) (Entered: 04/23/2020) Apr 23: 2 Emergency Motion of Debtors for Order Directing Joint Administration of Chapter 11 … (Perez, Alfredo) (Entered: 04/23/2020) Apr 23, 2020: Notice of Appearance and Request for Notice … Introducing the Chapter 11 Dockets precedent research system for corporate bankruptcy. Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston said Thursday he will confirm Speedcast’s chapter 11 plan of reorganization, which includes a … Log In, subscribe now, or purchase this single case to see the entire docket list. Satellite commuications operator Intelsat went bankrupt as part of strategy to collect billions for its 5G airwave licenses. The Company is represented in Australia and various other jurisdictions by Herbert Smith Freehills as legal counsel and Moelis Australia Advisory Pty Ltd as financial advisors. The funding will be used in part to repay all of its USD $285 million debtor-in-possession financing, as well as a permanent reduction of all of the USD $634 million senior secured debt of the Company. Speedcast entered Chapter 11 under ‘debtor in possession’ restructuring rules on April 23 rd. Apr 23: 1 Petition Chapter 11 Voluntary Petition Non-Individual Fee Amount $1717 Filed by SpeedCast UK Holdings Limited. 62); b.Debtors Application for Entry of an Order Authorizing Employment and Retention of Teneo Capital LLC as Investment Banker for … There are 2 newer docket entries. Speedcast is set to emerge from Chapter 11 with a new USD $500 million equity investment from Centerbridge. In re: § Chapter 11 § SPEEDCAST INTERNATIONAL § Case No. There are 2 newer docket entries. The cases are pending before the Honorable Keith L. Phillips and are … That's what we do. Speedcast was spun out of AsiaSat back in 2012 and thanks to an aggressive M&A policy has grown to be the largest satellite communications service provider in the world. Advice for running a connected fleet. Speedcast is represented in the chapter 11 filing by Weil, Gotshal & Manges LLP as American legal counsel and FTI Consulting, Inc., and Moelis & Company LLC as American financial advisors. Docket Entries by Month. Speedcast International Ltd has announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed Speedcast International Ltd and certain of its affiliates’ Plan of Re-organisation (the plan). There are 3 newer docket entries. Then we'll send you an email every day with docket updates. Under the terms of a plan of reorganisation, Speedcast will emerge from Chapter 11 with a new $500m equity investment from Centerbridge, which will be used in part to repay all of its $285m debtor-in-possession (DIP) financing, as well as a permanent reduction of all its $634m senior secured debt. This provides the opportunity for Speedcast’s existing secured lenders to participate in the … The plan also provides for a cash payment to holders of secured claims … Speedcast first announced its decision to recapitalize its business through voluntary Chapter 11 proceedings on April 23, 2020. The confirmation definitively clears the path for the company to successfully complete the Chapter 11 process after receiving final regulatory approvals and … Docket Entries by Month. According to a press release, this confirmation definitively clears the path for the company to successfully complete the Chapter 11 … Log In, subscribe now, or purchase this single case to see the entire docket list. Le chapitre 11 de la loi sur les faillites des États-Unis permet aux entreprises de se réorganiser sous la protection de cette même loi. Speedcast International Limited. Speedcast is set to emerge from Chapter 11 with a new USD $500 million equity investment from Centerbridge. “ The Court’s confirmation of the Plan marks a key milestone in the Company’s efforts to become a stronger business and positions us to emerge in the near term, having achieved our goals ,” said Stephe Wilks , Chair of Speedcast. The funding will be used in part to repay all of its USD $285 million debtor-in-possession financing, as well as a permanent reduction of all of the USD $634 million senior secured debt of the Company. Business Speedcast is ready to exit its Chapter 11 bankruptcy before the Honorable Keith L. and... Globecomm ( $ 135 million ) Partners, one of its largest lenders, has committed US $ 395M equity! Disclosure Statement Outlining Clear Path to Emergence from Chapter 11 with a USD... 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