OneWeb listed Arianespace as its top creditor with $238,137,447.58 in unsecured debt in a bankruptcy filing on Friday.
The French company is far ahead of the other 29 top unsecured creditors listed in the filing. Other companies in the top 10 include:
- Qualcomm Technologies: $8,000,000.00
- Deloitte Touche Tohmatsu Ltd: $6,861,336.01
- Hughes Network Systems: $5,352,750.51
- Deutsche Bank: $5,200,734.82
- Wipro Ltd.: $2,470,647.25
- Willis Towers Watson PLC: $1,899,895.09
- Viasat: $1,225,000.00
- Nokia Corporation: $988,051.09
- Redapt, Inc.: 662,275.85.
Arianespace released a brief statement on the bankruptcy:
Arianespace is aware of the Chapter 11 filing by several OneWeb companies in US Bankruptcy Court in the state of New York (USA) on March 27, 2020.
As Arianespace is in a contractual relationship with OneWeb, the company was consequently listed among the creditors in the document filed on March 27.
Arianespace will monitor the progress of this procedure in accordance with its rights and commitments, and has no further comment to make at this time.
In its filing, OneWeb said it has between 1,000 and 5,000 creditors. The company estimated its liabilities and assets at between $1 billion and $10 billion apiece.
OneWeb has laid off all but a small number of employees who are overseeing operations of its 74 satellites. The company was building a constellation of satellites to provide global broadband services.