Hughes Network files for bankruptcy

EchoStar subsidiary Hughes Network Systems filed for Chapter Eleven protection with only one hundred two million dollars available against major debt obligations.

“EchoStar subsidiary Hughes Network Systems filed for Chapter Eleven protection with only one hundred two million dollars available against major debt obligations. A one point five billion-dollar borrowing maturity triggered the filing, sharpening pressure on legacy satellite connectivity economics and EchoStar's wider restructuring.”