Sea Launch consortium to draft reorganization plan by fall

KYIV. July 2 (Interfax-AVN) - The Sea Launch international consortium, which announced its bankruptcy last week, will draft a corporate reorganization program within two months, consortium press secretary Paula Korn told Interfax.

She said reorganization options would be presented to the Delaware bankruptcy court.

The press secretary found it difficult to comment on reorganization details but said that the consortium continued its activity.

One launch from the sea platform and another from the Baikonur spaceport are scheduled for the fourth quarter of this year, Korn said.

Sea Launch, a world leading provider of space launch services from the Pacific platform, applied to the Wilmington court in Delaware on June 22 for voluntary reorganization in compliance with Title 11 of the U.S. Bankruptcy Code.