Orbital Infrastructure is now a post-confirmation liquidation case administered through a liquidating trust, with current activity centered on claims reconciliation, trust cash management, and residual litigation rather than an operating reorganization. The debtors filed chapter 11 on August 23, 2023, after a prepetition marketing process for interests in GTS and Front Line Power Construction failed to produce an out-of-court solution and the company entered bankruptcy with limited liquidity, roughly $123 million of scheduled funded debt, and only about $820,000 of available cash; the first-day record tied the case to a sale-oriented restructuring supported by $15 million of senior secured DIP financing for payroll, administrative costs, and continued marketing efforts in chapter 11 through the Bullock first-day declarationDkt. 29.
The capital stack entering the case included a mix of secured and unsecured note obligations, including the Tidal unsecured note, Jingoli settlement note, Johnson Note, secured intercompany note, Streeterville facilities, and a Front Line syndicated term loan, as described in the O'Neil petition declarationDkt. 28. The case then moved quickly from first-day stabilization into a liquidating plan track: the debtors filed a second amended combined disclosure statement and chapter 11 plan of liquidation in November 2023, and the court approved disclosure statement treatment and confirmed the plan on November 28, 2023 through the confirmation orderDkt. 355.
The current posture is trust administration. The confirmed plan became effective on December 6, 2023, and Kathryn B. McGlynn, as liquidating trustee, reported for the quarter ended March 31, 2026 that the trust had $6.2 million of cash, no quarterly receipts, $194,158 of quarterly disbursements, an asserted interest in $122,718 of disputed restricted cash, and an adversary proceeding pending against former directors and officers for alleged fiduciary-duty breaches through the quarterly financial and status reportDkt. 593. Near-term case work is focused on claims objections and closing mechanics: the court extended the trustee’s claims-objection deadline through September 16, 2026 in the claims-objection deadline orderDkt. 594, while the post-confirmation report states that the trustee anticipates seeking a final decree by December 31, 2026 through the post-confirmation reportDkt. 592.
