But on 15 July 2003, Loral filed under Chapter 11 of the United States Bankruptcy Code.

In conjunction with the filing, Loral Skynet announced the sale of its North American satellite fleet to INTELSAT to help reduce its debt.

[1] Intelsat Americas 8 (also known as IA 8) is an American (Bermuda registered) geostationary satellite that was launched by a Zenit-3SL launch vehicle from Odyssey, the platform floating on the equatorial Pacific Ocean at 154° West longitude, at 14:03:00 UTC on 23 June 2005.

The 5,493 kg (12,110 lb), 16 kW satellite carries 28 C-band, 36 Ku-band, and 24 Ka-band transponders to provide video and data transmissions to all countries in North and South Americas, after parking over 89° West longitude.

[2] Current clients for Galaxy 28 include HughesNet, Hearst Corporation, Mobile Universe, ABC, and CBS.