July 28, 2023
The Chapter 11 plan of satellite launch company Virgin Orbit received bankruptcy court approval Friday in Delaware after the judge presiding over the case said the Office of the United States Trustee should be provided trust distribution reports to determine the proper level of quarterly fees to be assessed against the estate.
July 25, 2023
Bankrupt rocket launch company Virgin Orbit has filed a proposed settlement of a Worker Adjustment and Retraining Notification Act class suit in Delaware bankruptcy court, proposing to pay $1.455 million into a settlement fund for the benefit of about 250 laid-off employees at its California facilities.
June 20, 2023
Bankrupt Virgin Orbit Holdings Inc. reported a multipart, multimillion-dollar deal Tuesday to defuse unsecured creditor objections to the company's Chapter 11 plan.
June 08, 2023
A Delaware bankruptcy judge Thursday overruled objections to the disclosure statement for the Chapter 11 reorganization plan of Virgin Orbit Holdings, ruling that unsecured creditors and the rocket company's laid-off workers would have their day in court in what she forecasted would be a hotly contested confirmation hearing.
May 24, 2023
Virgin Orbit received approval from a Delaware bankruptcy judge Wednesday to sell off more than $33 million in assets as the rocketry company founded by billionaire Richard Branson splits its assets among other space firms and heads for liquidation.
May 17, 2023
Billionaire Richard Branson's rocketry company Virgin Orbit is asking a Delaware bankruptcy judge to approve a $17 million stalking horse bid for its launch aircraft in order to set a floor for a Chapter 11 auction next week.
May 01, 2023
Billionaire Richard Branson's bankrupt rocketry operation reached agreement with unsecured creditors Monday to clear the path for a Delaware judge to approve both the company's $32 million debtor-in-possession financing and Chapter 11 bidding procedures.
April 27, 2023
The unsecured creditors of Virgin Orbit are asking a Delaware bankruptcy judge to reject the satellite launch company's request to tap into nearly $32 million in Chapter 11 financing, saying the company's parent arranged both the bankruptcy case and the post-filing loan for its own benefit.
April 07, 2023
Attorneys from Young Conaway Stargatt & Taylor LLP and Latham & Watkins LLP are representing billionaire Richard Branson's satellite launch company Virgin Orbit in the company's Chapter 11 case in Delaware bankruptcy court.
April 05, 2023
Satellite launch company Virgin Orbit received interim approval Wednesday for its Chapter 11 financing, making $12.25 million of new liquidity available immediately after a Delaware bankruptcy judge addressed concerns over a roll-up of prepetition debt.