Iridium defaults on loans worth more than $1.5 billion

Joseph S. Barrera III (joe@barrera.org)
Thu, 12 Aug 1999 10:12:39 -0700


Ouch.

WASHINGTON, D.C., Aug 11 Iridium World Communications LLC on Wednesday
said it had defaulted on loans totaling more than $1.5 billion, pushing the
struggling operator of a $5 billion global satellite telecommunications
network another step closer to insolvency.

http://www.msnbc.com/news/299671.asp