Replies to post #11740 on TerreStar Corporation (fka TSTRQ)

[ilenes]

since federal bankruptcy rules allow a company to pick their jurisdiction if they do any business there, you'd think there would be a difference, but I have sat in on cases here and up in NY where Blackstone was involved, and in both cases ultimately, the valuation was of no help...one case is a bit murky but had an EC, the in the other, an EC was repeatedly denied. supposedly, since bankruptcy is federal, the same rules apply everywhere...but the judge ends up setting so much of the tone and ultimately, whether the debtor can get away with questionable tactics, or whether they're called out or not

[ilenes]

since federal bankruptcy rules allow a company to pick their jurisdiction if they do any business there, you'd think there would be a difference, but I have sat in on cases here and up in NY where Blackstone was involved, and in both cases ultimately, the valuation was of no help...one case is a bit murky but had an EC, the in the other, an EC was repeatedly denied. supposedly, since bankruptcy is federal, the same rules apply everywhere...but the judge ends up setting so much of the tone and ultimately, whether the debtor can get away with questionable tactics, or whether they're called out or not