Eurocardsharing

Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, Update Legal unhappiness over Worldspace sale at General Satellite News forum; Legal unhappiness over Worldspace sale On Feb 25 the sale process for Worldspaces assets was originally due to have been ...

Reply
 
LinkBack Thread Tools Display Modes
Update Legal unhappiness over Worldspace sale
Old
  (#1)
Bacteria
Administrator
 
Bacteria's Avatar
 
Offline
Posts: 96,015

Level: 124 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 4638 / 4638
Magic: 32005 / 102666
Experience: 68%

Thanks: 1,107
Thanked 5,578 Times in 1,419 Posts
Join Date: Oct 2006
Age: 37
Update Legal unhappiness over Worldspace sale - 26-February-2009, 12:00

Legal unhappiness over Worldspace sale

On Feb 25 the sale process for Worldspaces assets was originally due to have been taking place at a Delaware bankruptcy court. A last-minute postponement pushes the Hearing Date back to March 6. Meanwhile, Worldspace filed a massive 192-page document that said in effect that its former European partner New Satellite Radio SrL, had made unfounded and unconvincing assertions that Worldspace was selling assets it was not entitled to sell.

The basis for NSR claims is that contracts and exchanges of letters between itself, and its partners (Worldspace Italia), and Worldspace formed agreements whereby NSR would use capacity on AfriStar to beam satellite radio services to Europe, and in particular Italy. The agreements amounted to an indefeasible right of use (IRU) to supply more than 40 channels of audio using the Northwest beam of Afristar.

WorldSpace Italia was never granted an IRU or any other ownership right, says the Feb 25 document. At most WSI has an executory, contingent, contractual right of future use of the AfriStar satellite. WSI never acquired an IRU or any other ownership right in the AfriStar satellite broadcasting capacity. The affidavit then goes on to list all the reasons why neither WSI or NSL had any reason to assume those alleged rights.

Rapid TV News is of the (non-legal) opinion that this action, like all else of the catastrophe that surrounds Worldspace, will no doubt run and run and provide guaranteed income for an army of lawyers for some considerable time yet.
   
Reply With Quote
Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump



ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Dreambox