TerreStar Corporation (fka TSTRQ)

[The Penny Trader]

Let's review:

" A judge on Thursday said TerreStar Networks Inc. can sell itself to Charles Ergen's Dish Network Corp. (DISH) for $1.375 billion,Ergen's latest big-ticket purchase in a personal shopping spree through the New York bankruptcy court."

So...TerreStar Networks Inc. is sold or has atleast gained approval to be sold.

" TerreStar Networks,which is trying to build the first satellite smartphone,filed for Chapter 11 protection in Manhattan last October with a plan calling for secured noteholders,including Ergen-owned EchoStar Corp. (SATS),to swap more than $850 million in debt for nearly all the equity in a reorganized TerreStar. More junior creditors,however,would have gotten just pennies on the dollar and existing equity holders would have received nothing.

The Reston,Va.,company scrapped that plan earlier this year in favor of the auction,approved by Lane in May even though the company still didn't have an opening bid at that point."

So they changed to a more favorable plan that had the creditors and equity holders in mind

"TerreStar Networks is the main operating subsidiary of publicly traded TerreStar Corp. (TSTRQ),which itself filed for Chapter 11 protection earlier this year."

So TerreStar Cororation is getting paid for the buy out.

We are going to see great things on the best future IMO