Short Take: Iridium hires firm to oversee restructuring

Iridium, the satellite communications firm that filed for Chapter 11 bankruptcy protections last month, has hired Alvarez & Marsal, a New York-based firm that works with financially insolvent companies, to oversee Iridium's debt restructuring plan. Alvarez & Marsal managing directors Joseph Bondi and David Gibson will manage the effort. Bondi will serve as chief restructuring officer and Gibson will act as interim chief financial officer for Iridium.

Iridium, the satellite communications firm that filed for Chapter 11 bankruptcy protections last month, has hired Alvarez & Marsal, a New York-based firm that works with financially insolvent companies, to oversee Iridium's debt restructuring plan. Alvarez & Marsal managing directors Joseph Bondi and David Gibson will manage the effort. Bondi will serve as chief restructuring officer and Gibson will act as interim chief financial officer for Iridium.

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