Legal

Ganley ordered to give control of Rivada Space Networks to his $3.1m creditor

A New York judge has ordered Declan Ganley to hand over control of the firm behind his planned space satellite constellation to backer David Shuman

Declan Ganley could also face an auction of a number of his shares in Rivada after an order by a Delaware judge relating to a $16.2m debt that Shuman secured in that state Picture: Michael Dillon

Declan Ganley has been ordered by a New York judge to hand over control of Rivada Space Networks, the operating company behind his planned space satellite constellation, to a backer to whom he owes $3.1 million.

A judge in New York last week ruled partially in favour of Astraea NYC LLC, a company controlled by a shareholder and backer of Rivada Networks, David Shuman.

Shuman’s company, Astraea, had made an application for a turnover order, ...