Satmex Launches Another Prepackaged Ch. 11

Law360, New York (April 6, 2011, 5:22 PM EDT) -- Mexican satellite service company Satelites Mexicanos SA de CV began another spin through the Chapter 11 bankruptcy process on Wednesday in Delaware, filing a prepackaged plan to restructure its balance sheet backed by the company's noteholders.

Less than five years after the company emerged from its previous bankruptcy, Satmex listed assets of $441.6 million and debts of $531.6 million in a petition lodged by Victoria Watson Counihan of Greenberg Traurig LLP in the U.S. Bankruptcy Court for the District of Delaware.

The proposed plan, which also...
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