Marathon Seeks to Replace EchoStar as Lender of $75 Million to TerreStar

By David McLaughlin - Nov 16, 2010 11:06 AM ET

Marathon Asset Management LP offered a $75 million loan to finance the bankruptcy restructuring of satellite communications company TerreStar Networks Inc. and replace a loan from EchoStar Corp.

Marathon is ready to replace EchoStar as TerreStar’s bankruptcy lender, Philip Anker, a lawyer for the hedge fund, said at a hearing today in U.S. Bankruptcy Court in Manhattan.

TerreStar, based in Reston, Virginia, is seeking final court approval of the $75 million loan from EchoStar. Marathon and others oppose the EchoStar financing.

The case is In re TerreStar Networks Inc., 10-15446, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

To contact the reporter on this story: David McLaughlin in New York at dmclaughlin9@bloomberg.net.

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net.

Game on! Look at today's action.

.22

That's way too conservative IMO

Quite possible. Give it 5 years and you'll see. Stock was trading at $10+ in 2007. Global market conditions drastically deteriorated since then. Economic recovery will help it get back on track.

Holding long!

TSTR is going to fly!

TSTR .494going higher! Chart looks great. Check it out.

http://blogs.wsj.com/digits/2010/09/21/att-offers-everyday-satellite-phone-for-a-price/

CYCA .0021 +24% hitting / bouncing off MA30 and MA50 / breakout is here!

CYCA .0021 hitting / bouncing off MA30 and MA50 / breakout is here!

CYCA .0021 up

CYCA .0021 up

CYCA .002 up!!! Time to fly!

Bullsheets Picks:

We believe news is due soon, buzz is building on the boards, and shares are scarce below .0022. The ask is very thin, and we hear rumors of loading before the run. We might see fresh fireworks this week, reminiscent of last week's end-of-week run.

CYCA .002 up!!! Time to fly!

Bullsheets Picks:

We believe news is due soon, buzz is building on the boards, and shares are scarce below .0022. The ask is very thin, and we hear rumors of loading before the run. We might see fresh fireworks this week, reminiscent of last week's end-of-week run.

Smart money! Loading up again.

on ridiculous volume

CYCA .0017 one / smart money loading up

CYCA .0017 one left

Oh yes! Quietly accumulating.

I like what I see here. Chart looks sweet.

CYCA getting ready to rocket!

Smile! Pennyland is coming.

You can add the word BIG in from of explosion.

Well said.

I'm sitting at close to .0025 and expect to see pennyland very very soon.

CYCA .0019 needs a little more love and it goes!!!

CYCA .0019 needs a little more love and it goes!!!

CYCA .0019 accumulation / breathing before the big run!

CYCA .0019 accumulation / breathing before the big run!

Much more buys than sells...

For those of you who don't have access to Real-Time Level II quotes, here's a website that has it sponsored, so you can use it for free.

http://www.otcmarkets.com/stock/CYCA/quote

and now some profit takers whacking the bid...

CYCA .002 getting some action / next leg up is coming

.002 getting some action

Pain the wall green tomorrow and Monday we see fireworks! Enough said.

CYCA .002 volume surge today!!! Breaking the down trend.

CYCA .002 volume surge today!!! Tomorrow should be spicy.

CYCA .002 setting up nicely for next leg up!

CYCA .002 setting up nicely for next leg up!

Awareness is increasing. Let's keep it up!

Yup! One step at a time. Close above .002 would be perfect!