Aside from pushing out around one phone per year (at best), Iridium Satellite really hasn't had a major impact on the market over the past ten years. 'Course, that's probably because it's hard to have much impact after seeking bankruptcy protection in 1999, but we digress. Starting tomorrow, new life will be breathed into Iridium thanks to a merger with publicly traded GHL Acquisition. If all goes to plan, the merger will add over $200 million to the company's bank account, enabling it to pay down debt and develop a next-generation network of satellites to be launched in 2014. Furthermore, $160 million will be raised by issuing another 16 million shares at $10 a pop, and a new label (Iridium Communications) will be thrown on for good measure. Only time will tell if the world really is ready to adopt satellite phones en masse, but if TerraStar's latest deal is any indication, we'd say chances are good halfway decent.

The writing's been on the wall for most of 2008, but it's now very, very official: UIQ is dead. The company's parents are unwilling (and / or unable) to pump any additional money into the failing software outfit, and considering that S60 has inherited the throne within the Symbian Foundation, Sony Ericsson and Motorola have abandoned the platform, and all of its employees have been warned of impending layoffs, there's really nothing left for UIQ to do than sell off its assets piecemeal to the highest bidders. We'd still give our right arm for a shot at a Paris, and with this fire sale coming on at UIQ HQ, who knows -- we might just have that shot after all.

Update: The bankruptcy filing is now official.

[Via Esato]

Neonode AB, a wholly-owned subsidiary of US-based Neonode, Inc., has filed a petition for bankruptcy in Sweden. The company, which has focused almost all of its efforts on pushing the now aged Neonode N2 since 2004, finally caved after looking so vulnerable in late July. According to Per Bystedt, CEO and Chairman of Neonode: "For the past six months we have focused on turning the business around and solving the financial situation of Neonode AB; we continue to have great belief in our technology and believe we have a competitive product in the Neonode N2 but without sufficient funds we cannot continue operations." No word of a revamped OS. No word of hardware tweaks. Nothing that sounds to us like they really want to survive in today's high-stakes handset market. At any rate, the parent company is hoping to trudge on as a technology licensing company, with or without Mr. N2.

[Via GeekZone]

We don't yet know for sure what's up, but we're hearing that customers of Voce, the luxury MVNO based on AT&T's network, woke up on February 1st to zero service, dead customer service lines, and even some crazier claims like being double-billed for the final month of service. We gave their sales lines -- usually the very last thing to go down -- a ring, and got no reply. It's possible this could be some kind of huge misunderstanding and outage on Voce's part, which we do hope it is, because if they did shut down they certainly did so in about the most abrupt, impudent way imaginable. Either way, looks like guys are going to be out for the count -- we wouldn't exactly expect a mobile phone provider to go completely dark, ignore its customers for days, and expect to retain any business.

[Thanks to everyone who sent this in]

As if there wasn't enough scandal surrounding the bankruptcy of BenQ Mobile, the dead handset company has just filed its third lawsuit since July against former parent company BenQ. This time BenQ Mobile's insolvency administrator Martin Prager wants €26 million Euro ($36 million US) to pay executive bonuses that BenQ the parent approved, but BenQ Mobile had to pay after BenQ pulled the investment plug. In July Prager filed two lawsuits that amounted to €80 million ($110 million US) for account payables made by BenQ Mobile to BenQ in 2006. BenQ's considering counterclaims against those July suits.

We already had a decent hunch that Prexar Mobile would come into play here, but a Delaware judge has officially green lit the sale of Amp'd Mobile to United Systems Access, which will give "thousands of customers a chance to switch carriers in the wake of the startup venture's collapse." United Systems will reportedly offer service to Amp'd customers under its Prexar Mobile brand, and interestingly, Amp'd will be getting a "25-percent stake in Prexar." Additionally, it was noted that Amp'd Mobile will be paid according to "how many of its customers switch service to the small Maine-based wireless provider, what plans the customers choose, and how long they stay with the new carrier." And you thought you'd never hear from these guys again.

[Via mocoNews]

Maybe it was Verizon's most recent in-court request to stop serving up costly airwaves for which it couldn't pay, maybe it was the cold reality that it'll allegedly have a mere $9,000 in the bank as of next Monday -- but at any rate, Amp'd Mobile appears ready to throw in the towel. The Verizon-serviced MVNO today filed with a bankruptcy judge to sell substantially all of its assets at auction after discovering that it was unable to line up debtor-in-possession financing, likely setting the stage for a full shutdown in the next few days. After launching less than two years ago to considerable fanfare and burning through a healthy $360 million, it's pretty shocking to see it all go down with such a whimper -- but hey, if you're looking to pick up a Q on the cheap -- that may or may not work on any other network, that is -- this may just be your chance.

Yeah, the court system may have given Amp'd a short stay of execution, but the troubled MVNO is far from being out of the woods. The latest chapter in Amp'd's bankruptcy saga has Verizon all fired up over its inability (or inaction) to get a loan lined up, all the while racking up some $370,000 in connection charges daily on Verizon's backbone. For anyone keeping count, that means Amp'd now owes Verizon something on the order of $56.6 milion, and the $9,000 (yes, nine thousand dollars) in Amp'd's coffers aren't quite going to cover the damage. In a court filing demanding that it be let out of its end of the well-breached agreement, Verizon says that it shouldn't be forced to participate as an "unwilling gambler" while Amp'd struggles to get back on its feet. Of course, if the plug does get pulled, it's an instant Amp'd death sentence -- so if you happen to be an Amp'd subscriber and your line goes dead, well, you can probably figure out how the court has ruled.

[Via mocoNews]

Apparently, it would just be far too easy for Amp'd to bow out of the fledgling MVNO realm after filing for bankruptcy, as the company has recently reached an agreement with Verizon Wireless that enables it to use The Network in exchange for Amp'd dropping its lawsuit. The suit was reportedly filed after Verizon moved to kick the Los Angeles-based Amp'd off its network, but we can't exactly blame Verizon for being quite perturbed after not receiving $33 million in payments. Of course, we're sure this spat is far from finished, but the case will press on next week while Amp'd customers can once again intrepidly chat away on Verizon's equipment -- for the time being, at least.

[Via mocoNews]

Bankrupt Amp'd Mobile has received an ever-so-brief stay of execution this week, thanks in no small part to the federal court system. The US Bankruptcy Court in Delaware has ruled that the MVNO has permission to use $7.5 million in cash from its largest creditor (and underlying service provider) Verizon, a sum Verizon was ultimately hoping to avoid paying out. $2.45 million of that loan will be need be held in reserve, but the remainder should be enough to keep Amp'd up and running until June 25. What'll become of the carrier after Monday, though, remains to be seen, pending the result of a lawsuit asking the court to prevent Verizon from shutting off its service altogether.

[Via mocoNews]

It appears to be nothing more than a little playful legal wrangling at this point, but Verizon's threat to straight-up disconnect Amp'd serves as a stark reminder to customers and other MVNOs just how critical the national carriers are to a virtual network's day-to-day operations. Verizon's argument, of course, is simple: Amp'd burns through tens of millions of dollars per month of The Network's airwaves, and nonpayment is grounds for sending out the "can you hear me now?" guy to Amp'd's house to disconnect the service, metaphorically speaking. This'll all play out in the courts over the next few days and months as Amp'd navigates the wide world of bankruptcy, but we've gotta believe Verizon isn't heartless enough to leave its paying customers in the dark.

[Via Phone Scoop]

We wish we could say we're surprised -- ok fine, we're always a little surprised when a company files for bankruptcy -- but it looks like Amp'd Mobile has filed chapter 11. We know the business has almost 200k subscribers, but apparently the business "couldn't keep up with the growth" -- but since when does growth and consumer interest in an MVNO's service equal business-rattling financial problems? Sounds like something weird is going on, but remember, chapter 11 just means down, not out. (Unlike the entirely out MobileESPN.) In other words, don't be surprised if Amp'd gets its business back in order and makes a triumphant return to the market -- or, you know, goes out of business entirely. [Warning: subscription req'd for link]

Update: mocoNews has some more info on the filing, including how much money Amp'd owes who; Amp'd also sent us an official statement on the bankruptcy filing, which is posted after the break.

Another day, another company slamming the doors shut, and another governmental group prying them back open to sniff things out. Shortly after BenQ pulled the plug on its German mobile division (and somehow got its P51 to China), chief senior public prosecutor Christian Schmidt-Sommerfeld has initiated an investigation to find out just what went down behind the scenes of the now-closed company. It's possible that "a number of bankruptcy-related offenses were committed," such as delaying their filing for bankruptcy and overstating how many units were sold in the most recent quarter by a couple million. Rumors had already surfaced regarding management's knowledge of the cashflow quandaries and their adamant indifference towards finding a solution, eliciting statements of "being lied to" to mar the already unfortunate closing. Nevertheless, we're sure someone will get to the bottom of all this, but unfortunately there's nothing they can do to bring all those unreleased (and sexy) mobiles to market.

[Via The Register]

Auf wiedersehen, BenQ-Siemens, we hardly knew ye. Yes, the struggling German mobile division of BenQ has just filed for bankruptcy protection as per orders from BenQ headquarters in Taiwan. The International Herald Tribune reports that BenQ estimated the company has lost $762 million on the mobile division (which employs 3,000 workers) since it took over the Siemens business in October 2005. Further, The Associated Press adds that the German division will be completely excised from BenQ "financially and operationally once the bankruptcy protection is approved." It's too bad that we won't have the maker of "feminine luxury" or of the "Treo 600-killing" P50 to kick around anymore, because really, who doesn't love a good underdog?

Read - IHT
Read - AP
[Thanks, Antti]

Would-be Kickflip owners, Helio employees, rejoice: VK's back in the ring for another round. After a July 7 scare that had the Korean manufacturer facing liquidation, a bankruptcy court has ruled that they can conveniently forget their debts and obligations, freeing up cash for things like -- oh, you know -- manufacturing of phones. It'll apparently take the court a couple months yet to decide exactly if and how VK will be allowed to continue its turnaround, a decision that will be based largely on how the defunct company fares in the interim. If they agree to cut it out with the SLVR knockoffs, we're all for a complete recovery.