TerreStar Corporation (fka TSTRQ)

[TSMoney]

No, you will find out NOTHING about the fate of the commons at the hearing. Where is the DD around here? This is about as simple as it gets in a bankruptcy case. The exact agenda of the hearing is to address TSC’s “Motion to Extend Exclusivity Period for Filing a Chapter 11 Plan and Disclosure Statement TSC Debtors' Motion for an Order, Pursuant to Bankruptcy Code Section 1121(d), Extending the Exclusive Periods During Which Only the TSC Debtors May File a Chapter 11 Plan and Solicit Acceptance Thereof.” This was taken verbatim from the Scheduled Hearings link on TSC’s restructuring page.

http://www.terrestarcorprestructuring.com/hearings.php

Here is the link to the actual motion which is under Docket #112:

http://www.terrestarcorprestructuring.com/pdflib/112_10612.pdf

For those of you too lazy to open a link, pages 5-6 of the Abode file say the following:

“The TSC Debtors seek entry of an order, substantially in the form attached hereto as Exhibit A, extending by 95 days the exclusive periods during which only the TSC Debtors may file a chapter 11 plan and solicit acceptances thereof. Specifically, the TSC Debtors seek to (a) extend the exclusive period to file a chapter 11 plan (the “Exclusive Filing Period”) for each TSC Debtor through and including September 19, 2011 and (b) extend the exclusive period to
solicit acceptances of a chapter 11 plan for each TSC Debtor (the “Exclusive Solicitation Period,” and, together with the Exclusive Filing Period, the “Exclusive Periods”) through and including November 18, 2011.”

In layman’s terms TSC is trying to extend the date only it can file a plan of reorganization (POR) until 9/19 and extend the date they can get it accepted until 11/18. I’ve seen people spamming on other boards that TSTRQ is going to “explode” on the 18th due to the hearing. Lol. I would strongly urge people to temper their expectations, this hearing is going to be a non-event. In fact, if the judge approves this motion it means the case will drag out that much longer.