ProtoStar Files New Plan After $210M Sale OK'd

By Evan Weinberger

Law360, New York (November 13, 2009, 2:13 PM ET) -- Bankrupt satellite operator ProtoStar Ltd. has filed an amended Chapter 11 restructuring plan and disclosure statement that lays out changed distribution procedures, on the heels of receiving approval of a $210 million sale of one subsidiary and the scheduling of an auction for another.

The amended plan and disclosure statement, filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, came less than a week after Judge Mary F. Walrath approved the sale of the first tranche of its assets to Intelsat Subsidiary Holding...
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