PARIS–Loral Space and Communications expects to emerge from bankruptcy Oct. 1, Bernard Schwartz, the company’s chairman and CEO, said Sept. 7. The last remaining hurdle for Loral is to file with the U.S. Federal Communications Commission to transfer the satellite licenses from the former Loral to the new entity, he said.

“We will come out with limited debt and good cash flow,” Schwartz said here at Euroconsult‘s 9th World Summit for Satellite Financing. “We feel we’re in a good position to expand our fleet and participate in the consolidation of the industry.”

The U.S. Bankruptcy Court for the Southern District of New York approved Loral’s reorganization plan in July. Under the plan, Loral will emerge as a public company under its current management and will seek listing on the Nasdaq stock exhcange. Loral’s two businesses — satellite manufacturing (Space Systems/Loral (SS/L)) and satellite services (Loral Skynet) — will emerge intact as separate subsidiaries of the reorganized Loral. Additionally, SS/L will emerge debt-free. The new Loral should be listed on the stock exchange by Oct. 15, Schwartz added.

Loral filed for Chapter 11 bankruptcy protection in July 2003.