Internet Satellite Platform, Inc. Files for Chapter 11 Protection; ISAT Seeks Investment; Satellite Internet Service Remains Uninterrupted
ALTAMONTE SPRINGS, Fla. --(Business Wire)-- July 27, 2004 -- Internet Satellite Platform, Inc. (ISAT), the leading provider of wholesale satellite-based Internet services, today announced that it has filed for Chapter 11 Bankruptcy Protection and is seeking interim and long-term funding."
"ISAT's management has been in discussions with several entities from within the industry since June 9, 2004 to secure needed interim and permanent funding and believes that it will be able to close an interim funding round in the near future. To date however, management has been unable to secure funding."
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