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Globalstar in Payment Dispute with Arianespace

Fri, 10 August, 2012

By Peter B. de Selding

 July 2011 launch 
PARIS — Launch service provider Arianespace has notified customer Globalstar that the mobile satellite services company is in default on payments due from three launches in 2010 and 2011 and must pay by late August or risk suspension of a fourth and final Globalstar launch late this year, Globalstar said Aug. 9.

Covington, La.-based Globalstar, which is working to restore its two-way voice service with a second-generation constellation of 24 satellites, faces a termination of the six-satellite launch if payment is not made within 60 days, the company said. A contract termination would trigger a default on Globalstar’s principal loan facility, which is guaranteed by France’s export-credit agency, Coface.

In a filing with the U.S. Securities and Exchange Commission (SEC), Globalstar said it disputes Arianespace’s claims and is negotiating with....