💥New Chapter 11 Bankruptcy - Ligado Networks Corp.💥
Satellite company c*ck blocked by the DoD
On January 5, 2025, Ligado Networks Corp. and ten affiliates (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Horan).
The debtors are a mobile communications company operating a satellite network across North America that provides mobile satellite services (“MSS”) to government and commercial customers. Similar to other satellite operators, the debtors also have some juicy spectrum licenses.
And what better way to start off the new year than cover a seemingly evergreen branch of telecom - spectrum.
Formerly known as LightSquared, the debtors’ story goes so far back that the spectrum we’ll be talking about was originally planned to be rolled out for 4G LTE. That was roughly 15-20 years ago. And no, this isn’t the first time the debtors found themselves in bankruptcy. After a ‘12 vintage filing, the debtors emerged as Ligado in ‘15. And thus, we extend a big welcome back Milbank LLP and, specifically, Mr. Andrew Leblanc!
