Boeing, Aker Balk At Sea Launch Plan's Provisions

Law360, New York (July 22, 2010, 4:31 PM EDT) -- Bankrupt satellite company Sea Launch LLC is facing objections to its proposed reorganization plan from the Boeing Co. and Aker Maritime Finance AS, which say the plan improperly treats them differently from other unsecured creditors.

Boeing, which owns a 40 percent equity stake in Sea Launch, and Aker, which owns a 20 percent stake, filed separate objections to the plan Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

Under Sea Launch's current plan, filed June 21, most unsecured trade creditors would be paid...
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