1st january will see everyone whicing eachothers happy new year, while this will not be happy for few people, i am talking about Worldspace Setellite Radio Subscribers.

Worldspace is one of the expensive  serive i have ever came across when i was in college, But it’s Quite popular. but Worldspace fiiled for bankrupcy in October 2008 and now it getting mute from 31st December 2009. sad but true.

People who have already subscribed to it beyond that date will be loosing their money.

“On December 31, 2009, the WorldSpace satellite radio broadcast service will be terminated for all customers serviced from India.

This action is an outgrowth of the financial difficulties facing WorldSpace India’s parent company, WorldSpace, Inc., which has been under bankruptcy protection since October 2008. The potential buyer of much of WorldSpace’s global assets has decided not to buy the WorldSpace assets relating to and supporting WorldSpace’s subscription business in India. As a consequence, WorldSpace, Inc. must discontinue its subscriber business in India. Your subscription contract is with WorldSpace, Inc., a US company that is in a bankruptcy proceeding in the United States. The company recognizes that you may have paid for services to be rendered beyond the termination date, but is not in a position to offer a refund for any unused portion of your subscription.

You may have a potential remedy under the U.S. bankruptcy law. You may file a claim under the claims procedure that is intended to protect creditors of the bankrupt company. Sometime early next year, a claim servicing company will send notice to all creditors listed by the company..- source‘

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