Satmex bankruptcy case due soon

1 Sep 2005

The bankruptcy case of Mexican satellite operator Satmex is unlikely to begin until next week after the communications ministry delayed the selection of an arbitrator. BNamericas reports that the operator is thought to have defaulted on USD523 million of debt since 2003. The aim is for Satmex to present a financial restructuring package to US creditors by the end of October.

Mexico