[Satellite Today 06-24-09] Sea Launch Company LLC and Sea Launch Limited Partnership and subsidiaries filed voluntary petitions to reorganize under Chapter 11 in U.S. Bankruptcy Court, Sea Launch announced June 22.
    In the  filing in Wilmington, Del., Sea Launch listed assets of between $100 million and $500 million against liabilities of between $500 million and $1 billion.
    Sea Launch plans to continue to maintain all normal business operations, and subject to court approval, Sea Launch initially will use its cash to fund operations. The company is addressing Debtor in Possession financing, if necessary, Sea Launch said.
    “We want to assure our customers, employees, suppliers and partners that Sea Launch intends to continue to operate after the filing,”  Kjell Karlsen, president and general manager of Sea Launch, said in a statement. “Chapter 11 reorganization provides an opportunity for us to continue operations and focus on building our future plans. We are grateful for the continued support of our customers and partners while we focus on reorganizing for the future.”
    The company placed Measat-3a into orbit June 21 for Measat using the Land Launch rocket, and its most recent Sea Launch mission was in April carrying Telespazio’s Sicral 1B communication satellite.