Sea Launch, XM Settle Satellite Launch Contract Spat

Law360, New York (October 3, 2009, 11:22 AM EDT) -- Bankrupt commercial satellite launcher Sea Launch LP and XM Satellite Radio Holdings Inc. have agreed to forgo a contract under which Sea Launch was supposed to launch an XM Radio satellite in exchange for a $16.75 million XM Radio unsecured claim on Sea Launch's estate.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the compromise Thursday, ending one of several contract disputes over satellite launches that had been levied against Sea Launch since the company filed for Chapter 11...
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