[Satellite Today 06-30-09] A U.S. bankruptcy judge ruled that Sea Launch Co. can continue maintaining its bank accounts and paying its utilities and employees as it restructures under Chapter 11 protection, Sea Launch confirmed June 29.
    The court approved all of Sea Launch’s first-day motions and consolidated its case with those of its subsidiaries.
    Sea Launch spokeswoman Paula Korn told Satellite Today that Sea Launch intends to operate as normal throughout the bankruptcy proceedings. “In the next few weeks we will be developing plans for reorganization, which will be reviewed by the bankruptcy court. It will take some time for us to develop scenarios and then gain agreement by all of our shareholders before presenting to the court. In the meantime, we intend to continue our normal business operations,” she said.