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[Satellite TODAY Insider 10-29-10] Sea Launch Co. has emerged from Chapter 11 bankruptcy after completing its reorganization process Oct. 27, the company announced.
Sea Launch's plan of reorganization, approved in July by the U.S. Bankruptcy Court of Delaware and cleared by a U.S. government committee in September, will see Russian corporation Energia Overseas Ltd. (EOL) acquire a majority ownership of the reorganized Sea Launch entity. EOL's U.S. affiliate, Energia Logistics, will assume management of rocket assembly and satellite integration operations at the existing Sea Launch Home Port facilities. Another EOL affiliate based in Moscow will manage supply chain operations of...