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Masten Space Systems filed for Chapter 11 bankruptcy on Thursday, putting at risk a NASA-funded mission to send a Masten-built lander to the surface of the moon.
The company told a Delaware court that it owed millions in liabilities to companies including SpaceX, Astrobotic, NuSpace and others.
Masten was selected by NASA under the agency’s Commercial Lunar Payload Services program to deliver eight payloads to the lunar surface, for $75.9 million.
The contract went far over budget and hit Covid pandemic-related obstacles. The company has been unable to raise funds or pay employees.
SpaceX has the largest unsecured claim to Masten’s debt, with $4.6 million unpaid as a vendor. A number of suppliers and other space companies are listed as large creditors – such as Airbus and Astrobotic – with debts each of $500,000 and up.
Masten’s filing specified that, among its property, immediate attention is needed for explosive and hazardous chemicals.
The filing was made in the Delaware Bankruptcy Court, case number 22-10657, reported TechCrunch.
Source - TechCrunch
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