S3 - Swiss Space Systems patch.
Jan. 23. 2017
The boss of Swiss Space Systems returns to the shadows surrounding the saga of his company. Questioned about the money available to his Croatian subsidiary, Pascal Jaussi points out that "this is private funds and very powerful government support.
Swiss Space Systems Holding Ltd. (S3), whose bankruptcy was pronounced Monday, wants to rebound in Croatia. His boss Pascal Jaussi announces a project of takeover of the company by its Croatian subsidiary and returns to the shadows that surround the saga of S3.
"The aim is to have Swiss Space Systems Holding SA taken over by its Croatian subsidiary and pay its debts. The activities of ZeroG and Spaceport of Payerne will therefore be maintained. And the companies concerned are in no way bankrupt, "assures the boss of S3 in an interview published by "Le Matin Dimanche".
Swiss Space Systems Airbus A340-313 Zero G
Questioned about the money available to his Croatian subsidiary, Pascal Jaussi points out that "this is private funds and very powerful government support. In Croatia, the project is national. " As for the confidence that is given to him in this country while his company is over-indebted in Switzerland, "they know that this bankruptcy takes place because the court did not give us time to capitalize our society," he replied.
Asked about the 30 million that had to be brought to the table to save S3, the boss concedes difficulties: "it is true that we encountered problems to dispose of this money: more noises ran around society, Investors steered ".
"The whitening stories have done us incredible damage. The sponsors did not return. The financial loss is at least double our debts! ", He said.
The biggest secret
Pascal Jaussi assumes to be the only respondent of his company. "The relations I have in Russia, China and the United States impose the greatest secrecy on me, they are relations of nobody to anyone. They trust me, they send me documents that are only for my eyes. I can not share them. It is the price to pay to work with the three great powers. "
Concerning the warnings against Amin Forti who provided the bank guarantee of 30 million, Pascal Jaussi also points out that he assumes. "Mr Forati is an influential man in the Middle East and Iran. For the time being, I was not given any proof that he was conducting questionable business. "
What about aggression?
As for his assault of August 2016 that he would have mounted himself, these assumptions "hurt him deeply". It "took place four days after a hearing from which we came out persuaded that we would get the bankruptcy adjournment. I had no reason to be desperate. We had obtained it until March 2017, which left time for recapitalization. Come up alone, for what purpose? "He notes.
Pascal Jaussi, CEO & Founder of S3
Pascal Jaussi said he always informed his collaborators. "We held no fewer than 31 sessions to explain to staff the evolution of our financial situation. We have always said that employees are free to leave. "
Shuttle and mini-satellites
Based in Payerne (Vaud, Switzerland), S3 was founded in 2013 with the objective of launching mini-satellites from a shuttle from an airplane and organizing weightless flights. As early as 2015, she was beset by financial difficulties.
On December 14th, the District Court of the Broye and Northern Waldensians declared the bankruptcy of the aerospace company, which is the subject of numerous lawsuits exceeding 7 million francs. S3 initially appealed before giving up. The final bankruptcy was pronounced last Monday.
Mr Jaussi do not take account of the geopolitical situation of the moment? To mix the USA with Russia, Iran and China at the moment with the arrival of the President Trump in the White House ... This leaves me pensive on the guarantees of success of his project.
Moreover, concerning Iran, it is very difficult to collaborate with its nationals and companies because the US sanctions have not been all suppressed and especially not for the so-called "strategic sectors" and if Mr. Jaussi wants to be taken seriously in this sector, it will be better to re-evaluate its partners.
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Images, Text, Credits: ATS/S3/Orbiter.ch Aerospace/Roland Berga.
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