Fri, 10 August, 2012
By Peter B. de Selding
| July 2011 launch |
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.... http://www.spacenews.com/launch/120810-globalstar-dispute-arianespace.html