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Satellite-telephone provider ICO Global Communications Ltd. has been forced by a cash crunch to join the parade of multi-billion dollar companies that have sought protection in Delaware this year to reorganize themselves.

ICO, which hoped to create the world’s third global satellite-telephone network, listed assets of $2.5 billion and debt of $1.1 billion in its Chapter 11 petition in U.S. Bankruptcy Court in Wilmington Aug. 27.

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