Bankruptcy Proceedings Unrelated to Iridium Satellite LLC
Iridium News Alert:
"From time to time we receive inquiries regarding legal notices and media reports relating to bankruptcy proceedings of companies bearing the Iridium name. A recent example is a Chapter 11 bankruptcy liquidation plan filed by Iridium Operations LLC, a subsidiary of Iridium LLC (U.S. Bankruptcy Court for the Southern District of New York, Chapter 11 Case No. 99-45005 (JMP)). Please note that neither of these companies has a business relationship with our company, Iridium Satellite LLC. So, it is important to know that this liquidation notice has no bearing on our business whatsoever. We also want to assure you that Iridium Satellite – with whom you do business today – is thriving.
By way of background, Motorola formed a number of entities in the 1990s that bear the name Iridium in some form or another. These entities include Iridium LLC, Iridium Operating LLC, Iridium IP LLC, Iridium Capital Corp., Iridium Roaming LLC, Iridium (Potomac) LLC, and Iridium Promotions LLC among others. While ten years have lapsed since the commencement of bankruptcy proceedings relating to these companies, many remain active cases. While the proceedings will eventually end, until then, you may continue to hear information about Iridium companies in bankruptcy. Most importantly we want you to know that while they bear the Iridium name, these companies are completely separate from, and not related to, our company either by ownership or through business relationships. And, since our company is not related to these entities, we are not involved in or apprised of the continuing activities related to the bankruptcy proceedings.
We appreciate that legal notices and media coverage about this can be confusing but want to assure you that these proceedings in no way are related to Iridium Satellite or otherwise affect our relationships with you or our growing business."
Source: Iridium Satellite LLC
"From time to time we receive inquiries regarding legal notices and media reports relating to bankruptcy proceedings of companies bearing the Iridium name. A recent example is a Chapter 11 bankruptcy liquidation plan filed by Iridium Operations LLC, a subsidiary of Iridium LLC (U.S. Bankruptcy Court for the Southern District of New York, Chapter 11 Case No. 99-45005 (JMP)). Please note that neither of these companies has a business relationship with our company, Iridium Satellite LLC. So, it is important to know that this liquidation notice has no bearing on our business whatsoever. We also want to assure you that Iridium Satellite – with whom you do business today – is thriving.
By way of background, Motorola formed a number of entities in the 1990s that bear the name Iridium in some form or another. These entities include Iridium LLC, Iridium Operating LLC, Iridium IP LLC, Iridium Capital Corp., Iridium Roaming LLC, Iridium (Potomac) LLC, and Iridium Promotions LLC among others. While ten years have lapsed since the commencement of bankruptcy proceedings relating to these companies, many remain active cases. While the proceedings will eventually end, until then, you may continue to hear information about Iridium companies in bankruptcy. Most importantly we want you to know that while they bear the Iridium name, these companies are completely separate from, and not related to, our company either by ownership or through business relationships. And, since our company is not related to these entities, we are not involved in or apprised of the continuing activities related to the bankruptcy proceedings.
We appreciate that legal notices and media coverage about this can be confusing but want to assure you that these proceedings in no way are related to Iridium Satellite or otherwise affect our relationships with you or our growing business."
Source: Iridium Satellite LLC
Labels: Iridium Bankruptcy not true
posted by Satellite Communication at
3:21 AM
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