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See how familiar he is with Fraudulent Conveyance.
Why are some posters so hell bent on squishing any glimmer of hope we might have as former shareholders to capitalize on our investment? I would think that most of us posting here are most likely former shareholders, so why are are a few of you barking so loudly that the end has come and gone? Sour grapes for selling? If you truly believe this is over, then go away and leave us to our dementia.
All we really know at this point is that the FCC granted the transfer of control of Fibertowers licences to AT&T, which in doing so allowed AT&T to purchase Fibertower for 207M. At that point the Fibertower bankruptcy had not been finalized. It did give Fibertower the money to satisfy the Ch 11, but one would assume the final valuation of Fibertower would be AFTER closing the Ch 11 case, but that is my assumption.
My lingering hope all comes back to the notes of Judge Lynn stating:
"Whether or not the Licenses terminated on June 1, 2012,20 any rights that Debtors have in
the Licenses constitute property of Debtors’ bankruptcy estate"
Our hope never laid with the FCC, it's with the fraudulent bankruptcy case.
I'm a small fish with less than 100k of old shares.
Assuming like everyone else that 207M wasn't the final #, I would assume one or more majority shareholders with a much bigger bank roll than I will have the means and the ability to instigate litigation. I'm sure there are lawyers with intimate details of this "transaction" that are diligently finding ways to make their case valid or not. It's how lawyers make money. They don't have to be right and they don't have to win necessarily. They just have to have enough to make a case and inconvenience ATT.
IMO Once the sharks smell blood in the water, there will be plenty of scraps for the bottom feeders. - so what am I doing? Besides checking this board every now and again, just living life man.... just living life.
This of course only matters if ATT did in fact pay more than 207M. Evidence of that doesn't exist in public.
II. DISCUSSION
A. Whatever Rights Debtors Have in the Licenses are Part of the Bankruptcy Estate
Whether or not the Licenses terminated on June 1, 2012,20 any rights that Debtors have in
the Licenses constitute property of Debtors’ bankruptcy estate.
If the Licenses have not been terminated, then it is clear they are part of the estate. The
Code defines the estate to include “all legal or equitable interests of the debtor in property as of
the commencement of the case,” save for exceptions not relevant here. Code § 541(a)(1).
Courts must interpret this definition expansively to effectuate Congress’s intent to encourage
reorganizations and protect creditors. E.g., U.S. v. Whiting Pools, Inc., 462 U.S. 198, 204-05
(1983) (citing H.R. Rep. No. 95-595, p. 367 (1977); S. Rep. No. 95-989, p. 82 (1978)).
Furthermore, case law demonstrates as a general matter that licenses issued by the Commission
constitute part of the estate when the licenseholder declares bankruptcy. See In re Nextwave
Pers. Commc’ns Inc., 244 B.R. 253, 267 (Bankr. S.D.N.Y. 2000); Shimer v. Fugazy (In re
Fugazy Express, Inc.), 114 B.R. 865, 869-71 (Bankr. S.D.N.Y. 1990). As such, this court has
jurisdiction over the Licenses pursuant to 28 U.S.C. § 1334(e).21
ATT/Fibertower VZW/Straightpath items are no longer on the FCC "Items on Circulation" list. Must have been confirmed?
Hey Sonny, any word back from all those emails you sent?
Report bankruptcy fraud to the DOJ here:
https://www.justice.gov/ust/report-suspected-bankruptcy-fraud
"Don't have to" is debatable.
Not all licenses have been transferred yet.
https://www.fcc.gov/items-on-circulation
FCC converts incumbent 28GHz and 39GHz spectrum licence holders to UMFUS. Reassignment of Fibertower/StraightPath licences to ATT/VZW is next.
https://docs.fcc.gov/public/attachments/DA-18-550A1.pdf
From T-Mobile's comments on the 24GHz auction:
The same concerns exist here. Past secondary market transactions reveal that the $0.002
per MHz-pop is too high of a reserve price for the 24 GHz and 28 GHz bands. AT&T, for
example, acquired a nationwide tract of FiberTower’s 39 GHz spectrum for $0.0018 per MHzpop.26
26 This number relies on a calculation of 114 billion MHz-pops based on the FCC’s settlement
reinstating many previously terminated licenses and returning others to the Commission. At the
time the AT&T deal was announced, FiberTower had only 12.3 billion MHz-pops of
active/uncontested licenses.
https://ecfsapi.fcc.gov/file/10510436317946/T-Mobile%20-%20Auctions%20101%20%26%20102%20PN%20Comments.pdf
Haven't AT&T already agreed to acquire all of the outstanding stock of FiberTower? Or am I missing the point of all this speculation that the shareholders could be cut out?
On January 25, 2017, AT&T Mobility, FiberTower, and all of its stockholders entered
into a stock purchase agreement pursuant to which AT&T Mobility agreed to acquire all of the
outstanding stock of FiberTower Corporation, after which FiberTower Corporation will become
a wholly-owned subsidiary of AT&T Mobility. This will result in a transfer of control of
FiberTower Spectrum Holdings LLC’s licenses from FiberTower Corporation to AT&T
Mobility. Under the terms of the stock purchase agreement, AT&T is thus acquiring all of the
rights to FiberTower’s licenses and authorizations, including the licenses that are the subject of
the pending remand from the United States Court of Appeals for the District of Columbia Circuit
(the “D.C. Circuit”). The review and approval of this transaction therefore presents an ideal
opportunity to simultaneously address both the transaction itself and the Fiber Tower renewal
applications on remand. As explained in more detail below, granting FiberTower’s renewal
applications on remand as part and parcel of granting the transaction would resolve the litigation,
bring certainty to the mmW bands (and this transaction) and speed the deployment of 5G
services to consumers.
https://wireless2.fcc.gov/UlsEntry/attachments/attachmentViewRD.jsp?applType=search&fileKey=676952455&attachmentKey=20088668&attachmentInd=applAttach
AT&T sets new 52 week low. Gotta secure that nationwide microwave spectrum in 2 frequency bands soon.
What's that worth? 250 million or 3 billion? Right now it's priceless.
What's AT&T fall back plan for 5G spectrum IF the FCC were to deny the transfer? Seems this bird in the hand is worth a few Billion...
I always wanted a briefcase handcuffed to my arm full of 152,300 shares of AT&T stock.
My patience is coming undone. Release the licences already.
AT&T Q3 earnings release on Oct. 23. Will we know anything before then? Somehow I think not.
And yet another day goes by with no news...
They better be counting out large stacks of cash.
Fixed 5G wireless revenue could reach 1 Billion in 2019.
Fibertower holds the key to AT&T having any stake in that.
http://www.fiercewireless.com/tech/fixed-wireless-set-to-become-a-serious-5g-opportunity
I'll take 2 AT&T for every 1 of my FTWR.
I accumulated plenty, thanks. Go plow your goats.
You're like a moth with gas.
You have no idea what ATT offered or is going to pay.
And a weak answer.
Thanks. Was wondering if the 11,18,23 licences were still in possession. I do understand the differences, but thanks for posting for those not in th e know.
Not sure if your last statement was sarcasm or not..
Fibertowers OTHER spectrum. I was re-reading the court opinions from back in 2015 and something caught my eye that I didn't see before.
"FiberTower provides “wireless backhaul” — i.e., the
transmission of voice and data between cell towers and regional
or national networks — to cellular companies and public
agencies. It owns over 3,000 licenses in the 11 GHz, 18 GHz,
and 23 GHz bands, and acquired through a merger in 2006 over
seven hundred licenses in the 24 GHz and 39 GHz bands, see In
re Matter of ART Licensing Corp., 23 FCC Rcd. 14116, ¶ 4
(WTB Oct. 2, 2008) (“2008 Bureau Order”); In re Matter of
FiberTower Spectrum Holdings LLC, 27 FCC Rcd. 13562, ¶ 2
(WTB Nov. 7, 2012) (“Bureau Order”)."
As I understand it, ATT wants 39GHz for "fixed wireless" 5G ie: cable replacement. For 5G mobile wireless, I know carriers are working on 11 AND 18GHz for 5G mobile.
Anyone have any info on the 11 and 18GHz licences?
"Accomplished By Transfer of stock or other ownership interests."
http://wireless2.fcc.gov/UlsApp/ApplicationSearch/applTransfers.jsp?applID=10148372
1 for 1 stock swap works for me. T: $38.91 as of 6/19
$35-50 :)
So the "market" indicated the value at ~1B for a company that just holds spectrum. How does that equate to FTWR being valued at 500M? FTWR has a 5G solution tested and ready to deploy WITH spectrum. My gut tells me the value of FTWR is north of 1B. How far north? Hopefully north of those greasy Canadians.
I don't believe the big carriers (Softbank, VZW, etc) failed to do any due diligence to determine the VALUE of what they were bidding on and not just out-bid AT&T to "sweep the legs out from under them". You know there were many meetings and a LONG time researching the potential value of what they were bidding on and a big part of determining that value is having at least an educated guess at to what the FTWR deal is. But once again, we are all just speculating and making assumptions.
You don't think the bidding carriers for STRP did any due diligence as to the value of what they were bidding on? Or do you think they just out-bid ATT as a reaction?
Ridiculous? No. I believe FTWR is worth $30-$50 a share TODAY. I certainly wouldn't turn down sub $10/share, but the bidding war for STRP indicates a much higher value for FTWR than 500 mill.
Thought the same thing.
Which one of you is RudeDog from the old Yahoo board?
Fibertower one of the first to deploy 5G trials in the US. Not only do they have the spectrum, but a true 5G solution ready to deploy. StraightPath only held spectrum... just sayin...
It's all assumptions until the deal is finalized. We're all speculating. I just think anywhere between 0.5 and 1.9B is reasonable. Obviously we all would like to see the high end of that range.
Stock for stock swap would equate to aprox 1.9 billion. Not unreasonable.
AT&T must have high confidence in the FCC releasing Fibertowers spectrum. The had deep enough pockets to outbid VZW.