Sea Launch Plan Gets OK; Russian Co. To Take Reins

Law360, New York (July 30, 2010, 6:53 PM EDT) -- A judge has approved the reorganization plan of satellite company Sea Launch LLC, clearing the way for the company to emerge from bankruptcy with Russian space systems company Energia Overseas owning 95 percent of the company.

Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware on Friday gave final approval to the reorganization plan, which would see Sea Launch exit bankruptcy with a $200-million line of credit and $155 million in new equity investment by Energia Overseas.

Approval of the plan came...
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