Space Bureau Denies Theia Waiver
The FCC Space Bureau has rejected a June 2024 waiver request from Theia Holdings for a retroactive waiver of a bond requirement connected with its nongeostationary satellite orbit license, saying in an order Friday that the full $4.3 million value…
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of the bond is due and must be paid to the U.S. Treasury. “Theia’s license was conditioned upon Theia posting, and thereafter maintaining in the Commission’s files, a surety bond with a specified penal amount sufficient to cover its potential liability in the event of default under the Commission’s escalating bond liability formula,” the order said. Theia’s potential liability under the escalating bond liability formula exceeded the value of its bond on file in May, and Theia requested the waiver in June to allow it to sell its assets to Emtech Global International. “After review of the record, we conclude that Theia has failed to demonstrate good cause for waiver of its bond requirement,” the order said. “Rather, Theia’s license became null and void on May 16, 2024, without further Commission action. Accordingly, the full $4,340,000 value of Theia’s bond must be paid to the U.S. Treasury upon written notice from the Commission’s Office of Managing Director.”