LORAL SPACE & COMMUNICATIONS LTD.

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WRbTykbivVYxYEnBhg/ncZeoFDLvxYFvR83hzYiSe8KvoMIuN5v9ZOi8l4Z4b6d4 gypFFr+38dSW0OVUIdJbvg== 0000950123-04-001483.txt : 20040210 0000950123-04-001483.hdr.sgml : 20040210 20040210153406 ACCESSION NUMBER: 0000950123-04-001483 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040116 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LORAL SPACE & COMMUNICATIONS LTD CENTRAL INDEX KEY: 0001006269 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 133867424 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14180 FILM NUMBER: 04581834 BUSINESS ADDRESS: STREET 1: 600 THIRD AVE STREET 2: C/O LORAL SPACECOM CORP CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 2126971105 MAIL ADDRESS: STREET 1: 600 THIRD AVE STREET 2: C/O LORAL SPACECOM CORP CITY: NEW YORK STATE: NY ZIP: 10016 8-K 1 y933328ke8vk.htm LORAL SPACE & COMMUNICATIONS LTD. LORAL SPACE & COMMUNICATIONS LTD.

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 (Date of earliest event reported):
January 16, 2004

LORAL SPACE & COMMUNICATIONS LTD.

(Exact name of registrant as specified in its charter)


Islands of Bermuda		1-14180	13-3867424

(State or other jurisdiction of incorporation)		(Commission File Number)	(IRS Employer Identification Number
c/o Loral SpaceCom Corporation
	600 Third Avenue, New York, New York		10016

	(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code:

(212) 697-1105

TABLE OF CONTENTS


	Item 5. Other Events.
	Item 7.Financial Statements, Pro Forma Financial Information and Exhibits.
SIGNATURES
EXHIBIT INDEX
COMP OF DEFICIENCY OF EARNINGS TO COVER FIXED CHRG
LIST OF SUBSIDIARIES OF THE REGISTRANT

On July 15, 2003, Loral Space & Communications Ltd. and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Code in the United States District Court for the Southern District of New York and parallel insolvency proceedings in the Supreme Court of Bermuda in which certain partners of KPMG were appointed as joint provisional liquidators.

Item 5. Other Events.

On or about January 16, 2004, the Registrant discovered that, due to a processing error on conversion to EDGAR by the Registrant’s filing agent, the Registrant’s Annual Report on Form 10-K for the Year Ended December 31, 2002 that was filed on March 31, 2003 inadvertently did not contain certain exhibits that the Registrant had submitted to the filing agent for filing via EDGAR. These exhibits are Exhibit 12 (Computation of Deficiency of Earnings to Cover Fixed Charges), Exhibit 21 (List of Subsidiaries of the Registrant) and Exhibits 23.1 and 23.2 (Consents of Experts and Counsel).

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.


Exhibit 12		Computation of Deficiency of Earnings to Cover Fixed Charges

Exhibit 21		Subsidiaries of the Registrant

SIGNATURES

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.


	Loral Space & Communications Ltd.

	By:	/s/ Richard Townsend

	Name:	Richard Townsend
	Title:	Executive Vice President and Chief Financial Officer
Date: February 10, 2004

-2-

EXHIBIT INDEX


Exhibit		Description

Exhibit 12		Computation of Deficiency of Earnings to Cover Fixed Charges

Exhibit 21		Subsidiaries of the Registrant

EX-12 3 y933328kexv12.htm COMP OF DEFICIENCY OF EARNINGS TO COVER FIXED CHRG COMP OF DEFICIENCY OF EARNINGS TO COVER FIXED CHRG

Exhibit 12

LORAL SPACE & COMMUNICATIONS LTD.

COMPUTATION OF DEFICIENCY OF EARNINGS TO COVER FIXED CHARGES



		Years Ended December 31,

		2002			2001			2000


		(in thousands)
		(unaudited)




Loss before income taxes, equity in net losses of affiliates, minority interest and cumulative effect of change in accounting principle		$	(147,354	)	$	(126,333	)	$	(56,843	)




Plus fixed charges:




	Interest expense		106,861			207,027			187,918




	Interest component of rent expense⁽¹⁾		15,380			15,717			15,664




Less: capitalized interest			(29,816	)		(23,097	)		(17,082	)

Earnings available to cover fixed charges		$	(54,929	)	$	73,314		$	129,657

Fixed charges⁽²⁾		$	(211,427	)	$	(303,487	)	$	(271,110	)

Deficiency of earnings to cover fixed charges		$	(266,356	)	$	(230,173	)	$	(141,453	)

⁽¹⁾ The interest component of rent expense is deemed to be approximately 25% of total rent expense.

⁽²⁾ Preferred dividends have not been adjusted for income taxes, due to the composition of the taxing jurisdictions underlying the Company’s operations and the resulting impact on the Company’s effective tax rate.

EX-21 4 y933328kexv21.htm LIST OF SUBSIDIARIES OF THE REGISTRANT LIST OF SUBSIDIARIES OF THE REGISTRANT

Exhibit 21

The active subsidiaries owned directly or indirectly by Loral Space & Communications as of February 28, 2003, all 100% owned (except as noted below) consist of the following:






Loral Space & Communications Corporation					Delaware




	Loral SpaceCom Corporation				Delaware




		Loral Communications Services, Inc.			Delaware




		Loral Ground Services, L.L.C.			Delaware




			Earth Station Ecuador CIA Ltda.		Ecuador




			Loralsat CIA Ltda.		Ecuador




		Space Systems/Loral, Inc.			Delaware




			International Space Technology, Inc.⁽¹⁾		Delaware




				Cosmotech⁽¹⁾	Russian Federation




			SS/L Export Corporation		U.S. Virgin Islands




	Loral Skynet International, L.L.C.				Delaware




	Loral Satellite, Inc.				Delaware




	Loral Orion, Inc.				Delaware




		Loral CyberStar Global Services, Inc.			Delaware




			Loral CyberStar International, Inc.		Delaware




				Tel-Link Communications Private Limited	India




		Loral CyberStar GmbH⁽²⁾			Germany




		Loral CyberStar Japan, Inc.			Delaware




		Ons-Mauritius			Mauritius




		Loral CyberStar Services, Inc.			Delaware




		Loral CyberStar Holdings, L.L.C.			Delaware




		Loral Asia Pacific Satellite (HK) Limited			Hong Kong




		Loral CyberStar Americas do Brasil Ltda.			Brazil




			Loral CyberStar Com do Brasil Ltda.		Brazil




		Loral CyberStar Com de Argintina SRL			Argentina




	Loral CyberStar, Inc.				Delaware




		Loral CyberStar (Europe) Ltd.			United Kingdom




		Loral CyberStar Data Services GmbH			Germany




		Loral CyberStar Data Holdings L.L.C.			Delaware




		Loral CyberStar Data Americas do Brasil Ltda.			Brazil




			Loral CyberStar Data do Brasil Ltda.		Brazil




	Loral Canada Inc.				Delaware




	Loral General Partner, Inc.				Delaware




		Government Services, L.L.C.			Delaware




	Loral Holdings, Inc.				Delaware




	Loral Mexico Holdings L.L.C.				Delaware




		ATSS Mexico, Inc.			Delaware




		ATSS/Loral Mexico, LP			Delaware




		Mexico Satellite, LLC⁽³⁾			Delaware




Loral Holdings Ltd.					Bermuda




	Loral Space do Brasil Ltda.				Brazil






		Loral Skynet do Brasil Ltda.		Brazil




Loral CyberStar Ltd.				Bermuda




	Loral Broadband Holdings, L.P.			Delaware




		Loral CyberStar, L.L.C.		Delaware




		CyberStar, L.P.⁽⁴⁾		Delaware




			CyberStar Licensee, L.L.C.⁽⁴⁾	Delaware




			CyberStar International, L.L.C.⁽⁴⁾	Delaware




			CyberStar Services, L.L.C.⁽⁴⁾	Delaware




			CyberStar, L.L.C.⁽⁴⁾	Delaware




Loral Global Services N.V.				Netherlands Antilles




	Loral Global Services B.V.			Netherlands




LGP (Bermuda) Ltd.				Bermuda




Loral Licensing Ltd.				Bermuda




	Loral Space Licensing Limited			Cyprus




Loral Satmex Ltd.				Bermuda




Loral Satellite Ltd.				Bermuda




	Loral Skynet (IOM) Limited			Isle of Man




Loral Mauritius Ltd.				Mauritius

NOTES

⁽¹⁾ Only 47.7% Owned Directly or Indirectly

⁽²⁾ Only 99.5% Owned Directly or Indirectly

⁽³⁾ Only 77.78% Owned Directly or Indirectly

⁽⁴⁾ Only 82.45% Owned Directly or Indirectly

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Table of Contents

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⁽¹⁾	The interest component of rent expense is deemed to be approximately 25% of total rent expense.

⁽²⁾	Preferred dividends have not been adjusted for income taxes, due to the composition of the taxing jurisdictions underlying the Company’s operations and the resulting impact on the Company’s effective tax rate.


⁽¹⁾	Only 47.7% Owned Directly or Indirectly

⁽²⁾	Only 99.5% Owned Directly or Indirectly

⁽³⁾	Only 77.78% Owned Directly or Indirectly

⁽⁴⁾	Only 82.45% Owned Directly or Indirectly