SoftBank's OneNet satellite network business filed for Bankruptcy Law Article 11-aftermath of COVID-19

Web OneWeb, which aims to provide communication services using a large number of satellites, applies the United States Bankruptcy Law Article 11 [Chapter 11] to the Bankruptcy Court in the Southern District of New YorkApplicationdid. Under the control of the court, aim to continue and sell the business.

Satellite Constellation OneWeb is Chapter 11 [Source: OneWeb / YouTube]

Satellite Constellation OneWeb is Chapter 11 [Source: OneWeb / YouTube]

OneWeb is launching a number of low earth orbit [LEO] satellites orbiting the earth at low altitudes, and is trying to provide high-speed Internet connection services to the entire earth through a satellite constellation that links them. A similar initiative is the Space X "Starlink", Amazon.com"Project Kuiper”And“AthenaAnd more. OneWeb has launched only 74 satellites so far, less than Starlink's approximately 360 satellites.

OneWeb anticipated that it could secure the funding needed to promote the satellite constellation project and launch commercial services, but the spread of the new coronavirus [SARS-CoV-2] infectious disease [COVID-19] was widespread. It did not raise any funds. Therefore, we apply for Chapter 11, which corresponds to the Japanese Civil Rehabilitation Law, and plan to rebuild.

OneIn addition, OneWeb hasSoftBank also investeddoing.

https://www.youtube.com/watch?v=REzA_SYInvc [/ embed]

Structure of satellite constellation [Source: OneWeb / YouTube]

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