I say there are Tons of Conflicts of Interest in the TerreStar Bankruptcy.
Is all of this "Of the Highest Fiduciary Duty" ?
Source of Quote
http://www.iddmagazine.com/news/terrestar-cor-files-for-bankruptcy-216487-1.html
So WHO Really "Opposed" the Echostar Plan?
An ad-hoc group "Refers to a comittee formed for one specific purpose." So what are the NAMES of those on this Ad Hoc Group for in the TerreStar Bank that "Opposed" the "EchoStar Plan" ?
Who are the "19" Who Opposed the "EchoStar Plan" ?
More on this Mysterious "ad-hoc group" that "Opposed" the "EchoStar Plan" in the TerreStar Networks Inc. Chapter 11 Bankruptcy.
Sprint Nextel Corporation (Plaintiff) v. U.S. Bank National Association in its Capacity as Indenture Trustee and Collateral Agent for the 15% Senior Secured Payment-in-Kind Notes due 2014. (Jan. 11, 2011 "Stipulation" )
http://terrestarinfo.com/pdflib/4_05461.pdf (Ad Hoc Group authorized to "Intervene" for Debtors?)
Isn't there a Conflict of Interest With Sprint that is Now in Deals With Lightsquared, Owned by Harbinger Capital Partners ?
http://www.investigativeblogger.com/2011/02/sprint-talking-lte-network-deal-with.html
http://terrestarinfo.com/pdflib/4_05461.pdf (Ad Hoc Group authorized to "Intervene" for Debtors?)
Isn't there a Conflict of Interest With Sprint that is Now in Deals With Lightsquared, Owned by Harbinger Capital Partners ?
http://www.investigativeblogger.com/2011/02/sprint-talking-lte-network-deal-with.html
"The shares of our common stock registered by this prospectus are comprised of (i) up to 8,970,000 shares of our common stock to be issued to EchoStar Corporation, or EchoStar, upon its exchange of up to $50 million in principal amount of TerreStar Networks Inc., or TerreStar, 6.5% Senior Exchangeable PIK Notes due 2014 (the “exchangeable notes”) originally issued on February 7, 2008, (ii) up to 8,970,000 shares of our common stock to be issued to certain affiliates of Harbinger Capital Partners, or Harbinger, upon its exchange of up to $50 million in principal amount of exchangeable notes into 358,800 shares of our Series E Junior Participating Preferred Stock"
http://livermore.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=6120930-115098-134208&SessionID=GzRfHC9nzzU6f27
http://livermore.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=6120930-115098-134208&SessionID=GzRfHC9nzzU6f27
So then Did Harbinger Capital Partners "Opposed" the "EchoStar Plan" ? Is that Legal when Harbinger Capital Partners lightsquared is Bidding on TerreStar too ?
Did Harbinger Capital Partners actually Oppose to EchoStar Buying TerreStar ? And a Bankruptcy Judge saw nothing wrong with this? OR is it even True?
Did Harbinger Capital Partners actually Oppose to EchoStar Buying TerreStar ? And a Bankruptcy Judge saw nothing wrong with this? OR is it even True?
Other Links of the TerreStar Bankruptcy and the Mysterious "ad-hoc group" that "Opposed" the "EchoStar Plan"
http://terrestarinfo.com/pdflib/143_15446.pdf
http://terrestarinfo.com/pdflib/143_15446.pdf
http://terrestarinfo.com/pdflib/11_05461.pdf
http://terrestarinfo.com/pdflib/11_05461.pdf
http://www.deloitte.com/assets/Dcom-Canada/Local%20Assets/Documents/Insolvencies/
ca_en_insolv_terrestar_FourthDisclosure_122310.pdf
http://terrestarinfo.com/pdflib/11_05461.pdf
http://www.deloitte.com/assets/Dcom-Canada/Local%20Assets/Documents/Insolvencies/
ca_en_insolv_terrestar_FourthDisclosure_122310.pdf
" Patrick J. Nash, Jr. (admitted pro hac vice)
Arun Kurichety (pro hac vice pending)
KIRKLAND & ELLIS LLP
Chicago, IL 60654
Counsel to the Ad Hoc Group of Holders of
15% Senior Secured Note"
******
"Following the Plan, the TSN Debtors will emerge from chapter 11 with an improved, highly deleveraged balance sheet. As of the Petition Date, the TSN Debtors had funded debt facilities with an aggregate accreted amount of approximately $1.2 billion, consisting of: (a) $943.9 million in aggregate principal and accrued interest of 15% Senior Secured PIK Notes due 2014; (b) $178.7 million in aggregate principal and accrued interest of 6.5% Senior Exchangeable PIK Notes due 2014; and (c) $85.9 million in principal and accrued interest in the TerreStar-2
"Following the Plan, the TSN Debtors will emerge from chapter 11 with an improved, highly deleveraged balance sheet. As of the Petition Date, the TSN Debtors had funded debt facilities with an aggregate accreted amount of approximately $1.2 billion, consisting of: (a) $943.9 million in aggregate principal and accrued interest of 15% Senior Secured PIK Notes due 2014; (b) $178.7 million in aggregate principal and accrued interest of 6.5% Senior Exchangeable PIK Notes due 2014; and (c) $85.9 million in principal and accrued interest in the TerreStar-2
Purchase Money Credit Agreement."
"Senior Secured PIK Notes "
"Senior Secured PIK Notes "
"On February 14, 2007, TSN issued $500 million aggregate principal amount of Senior Secured PIK Notes due 2014 (the “Initial Senior Secured Notes”) and on February 7, 2008, TSN issued an additional $50 million aggregate principal amount of Senior Secured PIK Notes due 2014 "
Source of Quotes Above
http://www.deloitte.com/assets/Dcom-Canada/Local%20Assets/Documents/Insolvencies/ca_en_insolv_terrestar_FourthDisclosure_122310.pdf
Source of Quotes Above
http://www.deloitte.com/assets/Dcom-Canada/Local%20Assets/Documents/Insolvencies/ca_en_insolv_terrestar_FourthDisclosure_122310.pdf
******
"there is some agreement between Harbinger and Echostar to join forces and collaborate in LightSquared, as Credit Suisse have suggested. "
"there is some agreement between Harbinger and Echostar to join forces and collaborate in LightSquared, as Credit Suisse have suggested. "
posted Here by
Crystal L. Cox
Investigative Blogger
Crystal@CrystalCox.com
No comments:
Post a Comment