Inmarsat Fighting Ligado's AST Deal
Ligado's planned cooperation with AST SpaceMobile is unlawful and would practically guarantee that Ligado can't satisfy its obligations to Inmarsat, the latter company told the U.S. Bankruptcy Court for the District of Delaware in an objection Friday (docket 25-10006). Ligado…
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has said its arrangement with AST is key to its Chapter 11 bankruptcy restructuring (see 2501060026). In its objection, Inmarsat said the deal has Ligado assigning some rights and economic benefits to AST, but Inmarsat's cooperation agreement with Ligado prohibits assigning any of its rights or delegating any obligations without Inmarsat's consent. Bankruptcy law similarly doesn't allow a partial assignment of rights or obligations, it said. Inmarsat has also asked the bankruptcy court to force Ligado to reinstate quarterly payments related to L-band spectrum use as part of Ligado's Chapter 11 bankruptcy proceeding (see 2503040028).