Declan Ganley’s Rivada settles $3m debt to save space satellite company

Declan Ganley’s Rivada Networks has paid $3.1 million to settle a debt judgment registered against the company in a New York court, thus avoiding having to hand over the subsidiary that controls its ambitious space satellite project.

The settlement is the latest development in an ongoing legal battle between Ganley and his former business partner David Shuman, who was demanding payment of the debt.

Shuman’s company, Astraea NYC LLC, had made an application for a ...