Replies to post #7092 on TerreStar Corporation (fka TSTRQ)

[TAA]

thanks for clearing that up nomind!! TSTRQ has some great potential!! Go TSTRQ!!

[TheFinalCD]

Uh... info dates as early as June 2011

LMAO

Quote:
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The offer from Dish was carefully calculated at $1.375 billion adding up to enough to pay off all secured debt leaving $90 million the $200 million in unsecured creditors. Shareholders would, of course, not get anything, as is customary in bankruptcies of this type, which would leave LightSquared losing its 12% holding and most of its unsecured debt notes it has traded in.
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http://www.rethink-wireless.com/2011/06/16/dish-network-lands-stalking-horse-bid-terrestar-spectrum-14-bn-page1

Reston, Va.-based TerreStar, which is trying to build the first satellite smartphone, filed for Chapter 11 in Manhattan in October with a plan calling for secured noteholders like would-be parent EchoStar Corp. (SATS) to swap more than $850 million in debt for nearly all the equity in a reorganized TerreStar. More junior creditors, however, will get just pennies on the dollar, and existing equity holders are set to get nothing.

http://ih.advfn.com/p.php?pid=nmona&article=46088848

nice try!!!!