Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of
Report: October 21, 2008
ICO
GLOBAL COMMUNICATIONS (HOLDINGS) LIMITED
(Exact
Name of Registrant as Specified in its Charter)
|
Delaware
(State
or other jurisdiction
of
incorporation)
|
001-33008
(Commission
File
Number)
|
98-0221142
(IRS Employer
Identification #)
|
|
Plaza
America Tower I
11700
Plaza America Drive, Suite 1010
Reston,
Virginia
(Address
of Principal Executive Offices)
|
20190
(Zip
Code)
|
(703)
964-1400
(Registrant’s
telephone number, including area code)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
| o |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
| o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
| o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
| o |
Pre
commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
|
ICO
Global Communications (Holdings) Limited (ICO) (NASDAQ: ICOG) today was awarded
at least $371 million in its litigation with The Boeing Company and Boeing
Satellite Systems International (Boeing and BSSI). The jury’s verdict awards ICO
$371 million against BSSI, composed of $279 million for breach of contract
and
fraud with regard to satellite pricing and $91.6 million for fraud with regard
to launches. The jury also awarded ICO $91.6 million against BSSI’s parent
company, Boeing, for tortious interference. Whether ICO can collect $91.6
million from Boeing in addition to the $371 million from BSSI will be the
subject of further proceedings. The award does not include any pre-judgment
interest that is to be applied by the Judge under California law. In view of
the
jury’s finding that BSSI and Boeing acted against ICO with malice, oppression or
fraud, beginning on Tuesday, October 28, the jury will hear evidence and
argument to determine the amount, if any, of punitive damages to be awarded
to
ICO.
The
award
is subject to the risks of post-trial motions, appeal and
collection.
On
October 21, 2008, the Company issued a press release addressing the verdict.
The
full text of the press release is attached hereto as Exhibit 99.1 and
incorporated by reference herein.
| Item
9.01 |
Financial
Statements and Exhibits.
|
|
|
99.1 |
Press
release dated October
21, 2008
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
ICO
GLOBAL COMMUNICATIONS (HOLDINGS) LIMITED
(Registrant) |
| |
|
|
| |
By: |
/s/
John L. Flynn
|
|
October
21, 2008
|
|
John
L. Flynn
Executive
Vice President, General Counsel and Corporate
Secretary
|
EXHIBITS
|
Exhibit
|
Description
of Exhibit
|
| |
|
|
99.1
|
Press
release dated October 21, 2008
|