Lightsquared has missed a second payment to satellite operator Inmarsat, the company said. This payment is for $29.6m and follows a missed payment of $56.2m in February.
Alastair Bovim, managing director, and Rash Jhanjee, director of enterprise, Global Xpress Program, for Inmarsat Solutions, talk to telecoms.com at AfricaCom 2012 in Cape Town.
US wholesale player LightSquared has filed for Chapter 11 bankruptcy protection amid efforts to resolve regulatory issues that have prevented it from launching its satellite service.
US carrier Lightsquared’s fortunes are going from bad to worse, as satellite firm Inmarsat has told the London Stock Exchange that it has not received a payment of $56.25m from the company.
LightSquared has announced a plan to switch spectrum bands in an effort to head-off concerns that its frequencies interfere with GPS systems. The announcement comes just two days after the wholesaler secured a last-minute extension to a deadline requiring it to submit a report on interference to the US Federal Communications Commission.
Hopeful US market debutante Lightsquared, which is aiming to deploy a combination of LTE and Satellite wireless services on a purely wholesale basis, faces an obstacle to deployment as a number of US governmental agencies have aired concerns that the modification of its licence to allow for terrestrial as well as satellite offerings will cause interference with existing services.
European satellite operator Solaris Mobile, which is owned by Eutelsat Communications and SES Astra, said that it has filed an insurance claim over the faulty satellite launched on April 3.
The European Commission this week designated two providers to offer satellite-based media and communications services, allocating Inmarsat and Solaris Mobile spectrum in the 2GHz S-band.
US-based hedge fund Harbinger Capital has confirmed its designs on UK satellite operator Inmarsat, using its holding in US satellite firm SkyTerra Communications as a platform for the bid. Harbinger said it will provide $500m in funding for SkyTerra’s business plan as part of an agreement that could see the possible combination of SkyTerra and [...]