Iridium Operating will wind down (Dealscape

Iridium Operating LLC will hang up on its bankruptcy. Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan confirmed the former wireless services provider's Chapter 11 liquidating plan on Oct. 29. Peck previously approved the plan's disclosure statement on Sept. 9.

A plan administrator will now be appointed to wind down Iridium's operations. Under the plan, all administrative and secured claims will be paid in full in cash on the effective date. Unsecured creditors will recover $15.7 million on roughly $1.6 billion in claims.

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NOT A SUBSCRIBER? Iridium Operating will wind down Posted on November 3, 2009 9:30 AM Iridium Operating LLC will hang up on its bankruptcy. Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan confirmed the former wireless services provider's Chapter 11 liquidating plan on Oct. 29. Peck previously approved the plan's disclosure statement on Sept. 9. A plan administrator will now be appointed to wind down Iridium's operations. Under the plan, all administrative and secured claims will be paid in full in cash on the effective date. Unsecured creditors will recover $15.7 million on roughly $1.6 billion in claims. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 225 company pages related to Wireless 145 articles related to James Peck 23 in-depth reports of Bankruptcies in the Telecommunications sector from New York 17 articles related to Iridium Operating LLC 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Amusement parks Deb Shops Windstream Corp. Diedrich Coffee Hanna Andersson Tween Brands Entertainment Lazard Lyondell Chemical		EXISTING USERS Username Password Forget your password? Missing a product?

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