“The decisive actions we announced are about strengthening our financial position through the proven legal framework the Chapter 11 process provides,” said Speedcast chief executive and executive director Peter Shaper. 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Chief Executive Officer. On 23 April 2020, Speedcast filed for Chapter 11 bankruptcy. Speedcast has withdrawn a related motion that was due to be heard in the United States Bankruptcy Court for the Southern District of Texas. Key personnel. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. Speedcast CEO and Executive Director Peter Shaper emphasized that this decision was made to strengthen the company’s financial position. More information about Speedcast’s Chapter 11 case can be found at http://www.kccllc.net/speedcast. management incentive plans in Speedcast, any successor to Speedcast, or any acquisition entity concerning Speedcast. While the company looks for the next CEO, board directors Peter Shaper and Joe Spytek have agreed to act as co-CEO's. Speedcast will be immediately implementing plans to improve the business. The Company is currently evaluating the revised proposals with a view to maximising value for all creditors and certainty of outcome for all stakeholders. Joe Spytek will continue in his role as President and Chief Commercial Officer, continuing to provide senior leadership to the Company. All Rights Reserved. 3: All term sheets, draft agreements, or other proposals exchanged between or among the Firm, Peter Shaper, Speedcast, and/or Centerbridge concerning the Revised ECA or any other restructuring proposal or alternative. Commercial coronavirus SpeedCast ABN 31 117 966 328 Non-Executive Director. Communication and IT solution provider, Speedcast International (ASX:SDA) has appointed Peter Shaper and Joe Spytek as independent non-executive directors as part of Speedcast’s Board renewal process.Peter Shaper is currently a Partner of US private equity firm Genesis Park and holds an MBA from Harvard, and a Bachelor of Industrial Engineering from Stanford University.Joe Spytek has more than 25 years of experience in leadership and international business including serving as the Founder and CEO of ITC Global.He has previously built several successful international telecommunications companies, and holds a Bachelor’s degree in Mechanical Engineering from Vanderbilt University.This comes as Caroline van Scheltinga announces her retirement from the board effective immediately.Shares in Speedcast International (ASX:SDA) are trading 12.2 per cent higher at $1.20. He is currently a Partner of Houston-based private equity firm Genesis Park. Terms of Use | Privacy Policy, Speedcast International Receives Revised Offers from Black Diamond and Centerbridge. That deal, between Speedcast, Centerbridge and creditor Black Diamond Commercial Finance, will in part establish a trust to pursue claims against former Speedcast CEO Peter Shaper. Speedcast International Limited is an Australia-based satellite services provider. The board, lead by Stephe Wilkes, said it would be looking at … KCC is Speedcast’s claims and noticing agent. Michael Healy of FTI Consulting, Inc. is Speedcast’s Chief Restructuring Officer, and FTI Consulting, Inc. is Speedcast’s financial and operational advisor. Given the quality of the FY19 results, the board is currently undertaking an extensive review. Speedcast is set to emerge from Chapter 11 with a new USD $500 million equity investment from Centerbridge. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Our focus remains on evaluating both proposals to determine an agreed path that maximises value for all creditors and certainty for all stakeholders”. SPEEDCAST INTERNATIONAL LTD: Veröffentlichung des Jahresergebnisses: 2019: SPEEDCAST INTERNATIONAL LTD: publication des résultats annuels: 2018: SPEEDCAST INTERNATIONAL LTD: Veröffentlichung des Halbjahresergebnisses: 2018: SPEEDCAST INTERNATIONAL LTD: publication des résultats semestriels: 2017 ... Peter T. Shaper. Speedcast ’s Board of Directors has accepted the resignation of CEO PJ Beylier in light of a disappointing preliminary 2019 Full-Year (FY19) financial result for the remote communication and IT solutions company. In terms of relative price strength - which takes into account the overall market trend - the Speedcast International price has moved by -73.15% over the past year. Board directors Peter Shaper and Joe Spytek will act as interim co-CEOs of the company. Learn more at. He was Non-Executive Director of AsiaSat until 2018. 20-32243 (MI) (Jointly Administered) NOTICE OF CANCELLATION OF TELEPHONIC HEARING [Relates to Docket No. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. The proposed plan would enable the company, under the leadership of both Peter Shaper, Speedcast’s chief executive officer, and Joe Spytek, Speedcast’s president and chief commercial officer, to continue to execute on the transformation plan to refocus the business, which they initiated earlier this year after joining the organisation in executive leadership roles. Speedcast International Ltd (ASX: SDA) is the world’s most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. Stephe Wilks further commented, “The Board is incredibly appreciative of Peter’s efforts in stabilising Speedcast through this challenging period.”. Our leadership team members bring expertise and knowledge from across the industry. Mr Peter Edward Jackson. Shaper has tendered his resignation to the Board, and the Board has accepted his resignation. Peter has 16 jobs listed on their profile. today announced that it has received further recapitalisation proposals for the business from two of its largest lenders, Black Diamond Capital Management and Centerbridge Partners. Speedcast CEO Peter Shaper has tendered his resignation to the Board and will be returning to the private equity firm he is affiliated with. Peter Myers. He later became CEO in July 2004. 1390] PLEASE TAKE NOTICE THAT the telephonic hearing on Peter Shaper’s Oral Motion Speedcast has withdrawn a related motion that was due to be heard in the United States Bankruptcy Court for the Southern District of Texas. 27 Sep 2019 - Communication and IT solution provider, Speedcast International (ASX:SDA) has appointed Peter Shaper and Joe Spytek as independent non-executive directors as part of Speedcast… Disclaimer Moelis Australia Advisory Pty Ltd and Moelis & Company LLC are Speedcast’s investment bankers. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. Peter T. Shaper serves as Chief Executive Officer of the Company. Speedcast announced its decision to recapitalize its business through voluntary Chapter 11 proceedings on April 23, 2020. Previously, Joe served as the Founder and CEO of ITC Global, a satellite communications business serving energy, mining and maritime customers. Shares in Speedcast International are currently trading at A$0.79 and the price has moved by -72.85% over the past 365 days. Shaper has tendered his resignation to the Board, and the Board has accepted his resignation. SpeedCast says that it aims to emerge from chapter 11 during the 2020 calendar year, and “ideally hopes to have it completed within six months.” The bankruptcy filing documents include a list of the company’s 30 largest creditors with unsecured claims, headed by satellite operator Intelsat, which is owed approximately $45 million, and Inmarsat, which is owed approximately $24.8 million. Chief Financial Officer, Joint Company Secretary. Speedcast acquired Globecomm for US$135 million in late 2018, ... Until a replacement is found, board directors Peter Shaper and Joe Spytek will act as co-CEO of the company. SYDNEY — August 31, 2020 — Speedcast International Limited (ASX:SDA) today announced that it has received further recapitalisation proposals for the business from two of its largest lenders, Black Diamond Capital Management and Centerbridge Partners. He served as the CEO at AsiaSat from 1993 - 2010 and as its Executive Chairman from 2010-2011. Joe Spytek will continue in his role as President and Chief Commercial Officer, continuing to provide senior leadership to the Company. Mr Jackson has more than 40 years of experience in the satellite and telecommunications sectors. Learn about Speedcast's Board of Directors and Executive Committee. SPEEDCAST INTERNATIONAL LIMITED, et al., Debtors.1 § § § § § § § Chapter 11 Case No. Peter Shaper, Speedcast’s Chief Executive Officer, is returning to the private equity firm he is affiliated with. The Chair of Speedcast International, Stephe Wilks commented “Black Diamond and Centerbridge are the two largest secured creditors of the Company and we are pleased that both have delivered compelling proposals for Speedcast. Shaper has tendered his resignation to the Board, and the Board has accepted his resignation. REQUEST NO. Peter Shaper Founding partner ... Joe Spytek is the President and Chief Commercial Officer of Speedcast. Joe Spytek will continue in his role as President and Chief Commercial Officer, continuing to provide senior leadership to the Company. Peter Shaper, Speedcast’s Chief Executive Officer, is returning to the private equity firm he is affiliated with. Peter Shaper biography. Learn more at www.speedcast.com. Speedcast International, a network services provider leasing capacity on more than 80 satellites, filed for Chapter 11 bankruptcy protection April 23, citing weakness in the cruise and oil markets. Through the Centerbridge buyout, Speedcast Chief Executive Peter Shaper and President Joe Spytek would stay as the company’s leadership, Speedcast said. “We are confident we will be well positioned to maximize the full potential of our expanded platform as a result of the actions we’re taking now to align our balance sheet strength with our clear industry leadership,” Shaper said in a release. Speedcast International Limited announced on 23 April 2020 that, after evaluating a variety of options to strengthen its balance sheet in ways that support its long-term growth and success, it has initiated a voluntary financial restructuring under chapter 11 of the United States Bankruptcy Code. The proposed plan would enable the Company, under the leadership of both Peter Shaper, Speedcast's Chief Executive Officer, and Joe Spytek, Speedcast's President and Chief Commercial Officer, to continue to execute on the transformation plan to refocus the business, which they initiated earlier this year after joining the organisation in executive leadership roles. The proposed plan would enable the Company, under the leadership of both Peter Shaper, Speedcast’s Chief Executive Officer, and Joe Spytek, Speedcast’s President and Chief Commercial Officer, to continue to execute on the transformation plan to refocus the business, which they initiated earlier this year after joining the organization in executive leadership roles. Thomas Choi founded Speedcast in 1998 as CEO, and later Pierre-Jean Beylier was hired to lead the sales and marketing activities. Satellite telecommunications service provider Speedcast CEO PJ Beylier has resigned from the company in light of a disappointing preliminary FY19 financial result. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. Peter Shaper is currently a Partner of Houston-based private equity firm Genesis Park. In the interim, Board Directors Peter Shaper and Joe Spytek will act as co-CEOs while continuing at the current positions. Speedcast International Limited and the Commitment Parties Hereto Dated August 12, 2020. September 27, 2019 11:45 AM. View Peter Shaper’s profile on LinkedIn, the world’s largest professional community. Peter Shaper, Speedcast’s Chief Executive Officer, is returning to the private equity firm he is affiliated with. Satellite telecommunications service provider Speedcast International has announced that it has received further recapitalisation proposals for the business from two of its largest lenders, Black Diamond Capital Management and Centerbridge Partners. He has extensive business and Board experience, particularly in the satellite telecommunications sector, having previously been Chairman and CEO of CapRock Communications (a company acquired by Speedcast in 2017) and Chair of ITC Global, also a global satellite services provider. by Katrina Bullock The funding will be used in part to repay all of its USD $285 million debtor-in-possession financing, as well as a permanent reduction of all of the USD $634 million senior secured debt of … © Speedcast 2020. CEO and Executive Director of Speedcast, Peter Shaper believes this is the right move the company, given the present challenges facing the industry. Speedcast is advised by Weil, Gotshal & Manges LLP as global legal counsel and Herbert Smith Freehills as co-counsel. In conjunction with chapter 11 petitions filed on behalf of … Speedcast directors Peter Shaper and Joe Spytek will run the company while it searches for a new CEO. Speedcast International Ltd (ASX: SDA) is the world’s most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. He has extensive business and Board experience, particularly in the satellite telecommunications sector, having previously been Chairman and CEO of CapRock Communications (a company acquired by Speedcast in 2017) and … “The decisive actions we announced today are about strengthening our financial position through the proven legal framework that the chapter 11 process provides," Peter described. 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