Loral Bankruptcy Exit Is Delayed Until November - Company Works To Settle Outstanding Contract Dispu
Loral Space and Communications will miss its scheduled October exit from Chapter 11 bankruptcy but likely will emerge in November, company spokesman John McCarthy said Oct. 28.
New York-based Loral meanwhile is rushing to settle outstanding contract disputes with customers and decide — as is allowed under U.S. Chapter 11 law — whether to accept or reject contracts that were on its books before it sought bankruptcy court protection in mid-2003.
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