Faced with over $600 million in debt liabilities and a bleak market outlook for its still-unfinished reusable rocket, Kistler Aerospace Corp. filed to reorganize July 15 under Chapter 11 of the U.S. Bankruptcy Code. Based in Kirkland, Wash., the private company is developing the K-1 reusable launch vehicle with intentions to launch commercial and government payloads into low Earth orbit, initially from the Woomera Spaceport in Australia, and later the Nevada Test Site. Papers were filed in the U.S. Bankruptcy Court for the Western District of Washington in Seattle, a move that will "facilitate Kistler’s restructuring, which is designed to...