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Gilat Satellite Networks Ltd. Message Board

  • babajon5babajon5 babajon5babajon5 Jun 9, 2012 6:55 AM Flag

    Gilt got a fine of 14 mil in brazil....

    Stupid manegment

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    • Hey baba,
      Hold your horses. Any company of Gilat's size is in court for one reason or another. That's the reality of the business.
      Gilat's announcement clearly states:
      "Spacenet's subsidiary intends to appeal this decision in Brazil and intends to continue its defense of any imposition of liability, but cannot predict the timing or ultimate outcome of the appeals process. The ultimate outcome of the foregoing matter, including any financial effect on Gilat, remains uncertain. The Spacenet subsidiary, which has been inactive for eight years, is dormant and has no substantial assets. Gilat's current business in Brazil is conducted by Gilat itself and a subsidiary of Gilat incorporated in Brazil."
      So it is not clear, when, if ever, they will pay and how much.

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