According to the FCC Public Notice on April 11, 2024, the FCC has granted the assignment and transfer of control for cable landing licenses for the Japan-Guam-Australia North cable system (JGA North) and the Japan-Guam-Australia South cable system (JGA South) from RTI JGA Pte Ltd. (RTI JGA) and RTI Connectivity Pte. Ltd. (RTI-C) to Jason Aleksander Kardachi, a citizen of Australia.

The JGA North connects Japan and Guam, was privately owned by RTI Cables (also known as RTI Group). The FCC licensees of the JGA North include RTI Solutions, Inc. (RTI-S), RTI JGA Pte Ltd.(RTI JGA) and RTI Connectivity Pte. Ltd. (RTI-C).

Both RTI JGA and RTI-C are Singapore entities, while RTI-S is a California entity.

RTI-S serves as the U.S. landing party for the JGA North to land and control the GNC Cable Landing Station in Piti, Guam.

RTI-S, RTI JGA and RTI-C are sister companies under the same RTI Group (also known as RTI Cables),but going seperate ways after long lasting lawsuit against each other and affiliated parties. RTI-S is now doing business as HMB Solutions, while RTI JGA and RTI-C are kept under RTI Cables and have been received by creditor. 

The JGA South connects Guam and Australia, being a consortium cable. The FCC licensees of the JGA South include GU Holdings Inc. (a Google entity), AARNET Pty Ltd., RTI JGA Pte Ltd.(RTI JGA) and RTI Connectivity Pte. Ltd.(RTI-C).

Google serves as the U.S. landing party for the JGA South to land and control the GNC Cable Landing Station in Piti, Guam Gateway.

RTI JGA and RTI-C are FCC licensees for both the JGA North the JGA South.

As the involuntary assignment of assets and interests in the cable landing licenses for the JGA North and the JGA South, RTI JGA and RTI-C filed notifications to the FCC respectively on October 4, 2023, to assign their assets and interests therein to Jason Aleksander Kardachi and Cosimo Borrelli as the court-appointed managers and receivers for RTI JGA and RTI-C as Debtor Under the Receivership and Management of Messrs. Cosimo Borrelli and Jason Aleksander Kardachi, both citizens of Australia.

This transaction does not affect the remaining interests held by the other licensees of the JGA North and JGA South cable systems.

Poseidon International Connectivity Pte. Ltd. (Poseidon JGA Lender) is the sole lender of record and secured creditor to RTI JGA and RTI-C and the holder of security interests in certain assets and interests including the interests held by RTI JGA and RTI-C in JGA North and JGA South. In an effort to enforce its rights under the credit agreements, on August 15, 2023, Poseidon JGA Lender entered into a Transaction Support Agreement that provides for it to obtain receivers to operate, manage, and control of interests held by RTI JGA and RTI-C in JGA North and JGA South during the pendency of the debt restructuring process. Concurrently with the execution of the Transaction Support Agreement, on August 15, 2023, Poseidon JGA Lender filed an application with the High Court of the Republic of Singapore (High Court) seeking the appointment of the independent receivers and managers over RTI JGA and RTI-C's relevant assets pursuant to the provisions of the credit agreements. On September 5, 2023, the High Court issued an order approving that request and appointing Messrs. Cosimo Borrelli and Jason Aleksander Kardachi as the receivers and managers.

Poseidon International Connectivity Pte. Ltd. is an Exempt Private Company Limited by Shares, incorporated in Singapore in April, 2023.

Meanwhile, in the same Public Notice, the FCC also granted the assignment and transfer of control of license for the SEA-US cable system from RAM Telecom International, Inc. to Michael Wyse, a U.S. citizen.

In this January, I Squared Capital-backed Lightstorm announced that it has signed asset purchase agreements with court-appointed receivers in both Delaware and Singapore to acquire three submarine cables, including the JGA-North as well as significant portions of the JGA-South and SEA-US cable systems, formerly owned by RTI Cables.