Protostar Satellite Auction Is Pushed Back Two Weeks

摘要

Newly expressed interest by potential buyers is the reason for Proto-Star Ltd.'s decision to postpone the auction of the ProtoStar 1 satellite by two weeks, to Oct. 29, industry officials said.rnProtoStar on Oct. 8 notified the Delaware Bankruptcy Court, which is handling the company's Chapter 11 bankruptcy and the auction of its two satellites, that prospective bidders now have until Oct. 14 to signal their preliminary interest, with bids due on Oct. 23. The auction then would occur on Oct. 29 at the New York offices of law firm Milbank, Tweed, Hadley & McCloy LLP.