Sea Launch Creditors Challenge Boeing's Top Status

Law360, New York (October 9, 2009, 1:57 PM EDT) -- The unsecured creditors committee in the bankruptcy proceedings for Sea Launch Co. LLC has asked a federal judge for standing to sue Boeing Commercial Space Co. to get the company recharacterized as an equity holder rather than a substantial creditor to Sea Launch.

In a motion to the U.S. Bankruptcy Court for the District of Delaware Thursday, the unsecured creditors committee asked for standing to prosecute Boeing — which is Sea Launch's largest creditor — on behalf of Sea Launch’s estates, seeking to get Boeing’s loan...
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