Elon Musk’s space company is about to be hit with a $50 million dollar lawsuit from the telecommunications company whose satellite was destroyed in the recent rocket explosion.
SpaceX’s Falcon 9 rocket exploded Sept. 1 in the run-up to a mission to carry a satellite that was supposed to provide phone, video and internet services for the Middle East, Europe, and locations across sub-Saharan Africa. The $200 million dollar satellite was owned by the Israeli company Spacecom and its loss was covered by insurance. The $50 million is intended to cover disruptions to Spacecom’s business not covered by insurance.
“The company has begun measures to recover funds invested in the project,” Spacecom said in a press release. The company said compensation for the destroyed satellite would be about $50 million — or an unspecified number of free satellites launches from SpaceX. – READ MORE
