Credit Crunch Forces Satellite Launch Co. Into Ch. 11

Law360, New York (June 23, 2009, 12:00 AM EDT) -- Citing credit constrictions, weakness in the commercial satellite industry, and the effects of a failed launch and the global economy, commercial satellite launch company Sea Launch Co. LLC and several subsidiaries have filed for Chapter 11 protection.

Sea Launch, Sea Launch LP and subsidiaries Sea Launch ACS Ltd., Sea Launch ACS LP, Platform Co. LDC and Platform LP filed their petition Monday in the U.S. Bankruptcy Court for the District of Delaware, listing assets of $100 million to $500 million and debts of more than $1...
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