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Inmarsat receives $9.1 million dues from LightSquared

Published 29/08/2014, 10:42
© Reuters Staff at satellite communications company Inmarsat work in front of a screen showing subscribers using their service throughout the world, at their headquarters in London
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(Reuters) - British satellite company Inmarsat Plc (L:ISA) said it received dues of $9.1 million (5.48 million pounds) from U.S. mobile network company LightSquared, but added there was significant uncertainty of any further payments from the bankrupt company.

© Reuters. Staff at satellite communications company Inmarsat work in front of a screen showing subscribers using their service throughout the world, at their headquarters in London

Inmarsat, which provides communications for ships, aircraft and users in remote locations, said the payment was received within the 60-day contractual cure period triggered by a notice of default issued to LightSquared on July 2.

(Reporting by Aastha Agnihotri in Bangalore; Editing by Feroze Jamal)

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