All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: IceShark who wrote (18452)	3/16/2000 8:23:00 PM
From: Ilaine	Read Replies (2) of 42523

OT - Iridium's creditors filed an involuntary chapter 11 petition back in August, 1999, so the company is facing dissolution. You know how that goes - the Bankruptcy Court has to approve any sale of assets. If no one buys the satellites, the company will decommission them rather than face unknown tort liability in the future. I am keeping a watch on the company, posting news as I find it to the Iridium thread. Wednesday the Court granted an extension until March 27 to find a buyer or a backer, and is considering a request for a longer extension, until May 1. Globalstar investors are convinced that no one wants the satellites. Wish one of those billionaires with money to spare would buy them and use them for telecommunications and internet for schools and hospitals, especially in the Third World.

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