OneWeb Global Limited’s March 27, 2020 Chapter 11 case was closed by the June 1, 2023 final decree Dkt. 855, following reorganization and a notice of plan effectiveness Dkt. 686 filed November 20, 2020. The proceeding moved from failed financing for its satellite network through a bidding process to a confirmed plan; no further material case milestone is identified.

OneWeb Global Limited’s Chapter 11 case was closed on June 1, 2023, under the court’s final decree Dkt. 855. The court had confirmed the Third Amended Joint Chapter 11 Plan of Reorganization on October 2, 2020, in its confirmation order Dkt. 622, and the debtors reported plan effectiveness in a notice filed November 20, 2020 Dkt. 686.

OneWeb and its affiliates filed Chapter 11 on March 27, 2020, after financing efforts failed while the company was developing a global low-Earth-orbit satellite internet network. In his first-day declaration Dkt. 3, CFO Thomas Whayne reported that OneWeb had launched more than 70 satellites, but COVID-19 disrupted its funding prospects: existing investors declined to commit long-term funding on March 12, and a bridge-financing effort failed on March 21. OneWeb reduced its workforce by approximately 90% and retained essential operations while seeking to preserve and market its assets.

The court authorized cash-collateral use and protections for prepetition noteholders in the April 30, 2020 final cash-collateral order Dkt. 118. A separate DIP financing order signed April 30 and filed May 1 Dkt. 121 authorized a facility with a commitment of up to $300 million.

The court approved competitive bidding procedures on April 29, 2020, through the bidding-procedures order Dkt. 104. On July 13, it authorized the debtors to enter into and perform under a plan support agreement with the successful bidder in the plan support agreement order Dkt. 400.

OneWeb Global Limited’s March 27, 2020 Chapter 11 case was closed by the June 1, 2023 final decree Dkt. 855, following reorganization and a notice of plan effectiveness Dkt. 686 filed November 20, 2020. The proceeding moved from failed financing for its satellite network through a bidding process to a confirmed plan; no further material case milestone is identified.

OneWeb Global Limited’s Chapter 11 case was closed on June 1, 2023, under the court’s final decree Dkt. 855. The court had confirmed the Third Amended Joint Chapter 11 Plan of Reorganization on October 2, 2020, in its confirmation order Dkt. 622, and the debtors reported plan effectiveness in a notice filed November 20, 2020 Dkt. 686.

OneWeb and its affiliates filed Chapter 11 on March 27, 2020, after financing efforts failed while the company was developing a global low-Earth-orbit satellite internet network. In his first-day declaration Dkt. 3, CFO Thomas Whayne reported that OneWeb had launched more than 70 satellites, but COVID-19 disrupted its funding prospects: existing investors declined to commit long-term funding on March 12, and a bridge-financing effort failed on March 21. OneWeb reduced its workforce by approximately 90% and retained essential operations while seeking to preserve and market its assets.

The court authorized cash-collateral use and protections for prepetition noteholders in the April 30, 2020 final cash-collateral order Dkt. 118. A separate DIP financing order signed April 30 and filed May 1 Dkt. 121 authorized a facility with a commitment of up to $300 million.

The court approved competitive bidding procedures on April 29, 2020, through the bidding-procedures order Dkt. 104. On July 13, it authorized the debtors to enter into and perform under a plan support agreement with the successful bidder in the plan support agreement order Dkt. 400.