Judge Allows Satmex To Take Steps Toward Ch. 11

Law360, New York (April 13, 2011, 5:19 PM EDT) -- A Delaware bankruptcy court on Wednesday authorized Mexican satellite service company Satelites Mexicanos SA de CV to pay fees and assume restructuring support agreements in order to begin its Chapter 11 reorganization.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved the order, saying the debtors established such relief was necessary to avoid immediate and irreparable harm. According to court documents, no default exists under the restructuring support agreements and therefore the debtors are not required to provide assurance that...
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