ProtoStar files for bankruptcy

Asian satellite operator ProtoStar has put its assets up for sale after filing for Chapter 11 bankruptcy in the US and Bermuda. The operator, which has offices in San Francisco and Singapore, says it has secured finance that will allow it to continue to operate in the meantime.

ProtoStar operates two satellites – ProtoStar I, launched last year, positioned at 98.5° East through an agreement with Intersputnik, and ProtoStar II, launched in May, which operates from 107.7° East.

The sale of the company’s assets is being handled by UBS Securities.