Inmarsat Issues LightSquared a Notice of Default for $17.5 Million – Satellite Today
Inmarsat headquarters. Photo: Matt Biddulph (Flickr) [Via Satellite 10-06-2014] Inmarsat reports LightSquared has not submitted a quarterly Phase 2 payment due on Sept. 30. The company owed $12.5 million along with a related payment of $5 million, which was never received. Based on the terms set in the cooperation agreement, Inmarsat issued a notice of…