Motorola ordered to pay $300m in Iridium case by federal judge

A federal judge has ordered Motorola Inc to pay a $300m guaranty that was collateral for an $800m loan granted to Iridium LLC, according to reports.

Motorola ordered to pay $300m in Iridium case by federal judge
Tue, 08 Jan, 2002 - 20:59

A federal judge has ordered Motorola Inc to pay a $300m guaranty that was collateral for an $800m loan granted to Iridium LLC, according to reports.

US District Judge Alvin H. Hellerstein in Manhattan ordered Motorola to pay the guaranty on the loan, which was issued in 1998 by Chase Manhattan (now JP Morgan Chase & Co) and a consortium of lenders.

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