ITSO Asks Bankruptcy Court for OK to Pursue Budget Fight With Intelsat
Intelsat is about a year behind in its required funding of the International Telecommunications Satellite Organization, ITSO said in a motion Sunday (in Pacer, petition 20-32299) asking U.S. Bankruptcy Court in Richmond for relief to allow it to go ahead…
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with an arbitration proceeding with Intelsat before the International Chamber of Commerce. It said it submitted a FY 2020 budget of $1.85 million and a FY 2021 budget of $1.9 million. ITSO said after using up its reserves, it has been operating on $101,000 in interim funding provided by Intelsat, though that "falls far short" of its FY 2020 budget and will run out in July. Intelsat didn't comment Tuesday.