In 1957, the first satellite Sputnik 1 was launched into space. Over the last almost 70 years, rocket launches have now placed over 22,000 satellites into Earth orbit. Not all these satellites are still functioning. Non-functioning satellites combined with other space debris objects orbiting Earth number in the millions. The number of satellites and the debris field orbiting Earth poses a problem that currently has no global solution.
With the new policy directive of the White House that commercial space launch cadence and novel space activities substantially increase, rocket launches, and other commercial space activities will further surge. An uptick in activity in outer space raises the probability and risk that space debris will cause damage on Earth and elsewhere. Consequently, space debris liability issues may soon come to a bankruptcy court near you.
This article delves into what objects in space are considered space debris; whether space debris becomes property of the bankruptcy estate; the various laws that address liability for damage caused by space debris; and how debtors may address potential liability for damage caused by space debris that is traceable to the debtor. Click here to read the full article
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