TerreStar Corporation (fka TSTRQ)

[renoldman]

What's really happened is that the preferred shareholders are trying to take what is left of the company.

When the bk was initially announced, it was not seen as a likely event that preferred shareholders would be fully repaid.

As it is right now, preferreds are trying to cast doubt on the value of what is left because they want to profit from the situation.

You need to remember that when the bk started, equity holders were pretty much automatically shafted.