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Globalstar Resumes Discussions with Potential Investors
San Jose - Feb 06, 2003 Globalstar, L.P. confirmed today that New Valley Corp. has terminated its agreement with Globalstar under which it would have provided debtor-in-possession ("DIP") financing and would have acquired a controlling interest in the company. Globalstar is now continuing discussions with potential investors, and the company is confident that another restructuring plan will be developed in the future. Members of the Globalstar Creditors Committee have already indicated that they intend to provide their own debtor-in-possession financing. Globalstar also will immediately begin to explore investment possibilities with additional companies. Community Email This Article Comment On This Article Related Links Globalstar SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Satellite Constellation - multiple satellite deployments in LEO and Beyond
Royal National Lifeboat Institution Tests Iridium Based Satellite Tracking System
Bethesda MD (SPX) Dec 20, 2005The Royal National Lifeboat Institution (RNLI) has begun testing a maritime safety system for automatic vessel monitoring and emergency alerting at sea using the Iridium satellite network. |
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