blog by Investigative Blogger ~ Crystal L. Cox ~ Crystal@CrystalCox.com - Harbinger Capital Partners - Philip Falcone - Lightsquared - Harbinger Group
Thursday, August 4, 2011
Philip Falcone - Lightsquared, ATT Pressuring Local Elected Officials and Local Fire Chief to Pull Support from LightSquared ? Lightsquared, Philip Falcone, Harbinger Capital Partners
Tuesday, July 12, 2011
Harbinger Group Inc., Omar Asali, Philip Falcone, Harbinger Capital Partners - Omar Asali announced as Harbinger Group Inc. President. Harbinger Capital Partners
Wednesday, March 9, 2011
Judge Sean H. Lane of U.S. Bankruptcy Court in Manhattan Says TerreStar's Public Parent Can Keep Tapping Loan
Of DOW JONES DAILY BANKRUPTCY REVIEW
NEW YORK -(Dow Jones)- A judge on Wednesday granted final approval for the public parent company of TerreStar Networks Inc. to continue tapping a $13.4 million bankruptcy loan from creditor Solus Alternative Asset Management, about a month after the entity filed for bankruptcy protection in New York.
Judge Sean H. Lane of U.S. Bankruptcy Court in Manhattan approved the loan for the parent, TerreStar Corp. (TSTRQ), which will use the proceeds to pay operating costs, professional fees and satisfy pre-bankruptcy claims.
Also at Wednesday's hearing, Lane approved TerreStar Networks Inc.'s deal with creditors to extend by 75 days the amount of time it can control its own bankruptcy case. Without the agreement, TerreStar Networks' exclusivity would have ended Wednesday.
"We are pursuing at least three alternatives," said TerreStar lawyer Arik Preis, of Akin Gump Strauss Hauer & Feld. Preis said that along with exploring a sale of the company, TerreStar is considering filing a plan of reorganization and also has begun exploring a third option.
That one is related to hedge fund manager Phil Falcone's Harbinger Capital Partners and Solus' joint bid last week for another satellite company in U.S. Bankruptcy Court, DBSD North America Inc.
As part of its bid for DBSD, the Harbinger/Solus group said in a letter that a tieup between DBSD and TerreStar Networks is a possibility.
"We have actively pursued and followed up with counsel to Solus," Preis said Wednesday.
TerreStar Networks last month scrapped a plan to reorganize into the hands of EchoStar Corp. (SATS), which is controlled by satellite-television mogul Charles Ergen.
Ergen is seeking to use his other publicly traded company, Dish Network Corp. (DISH) to buy DBSD.
In light of the Harbinger/Solus offer for DBSD, Judge Robert E. Gerber of U.S. Bankruptcy Court in Manhattan last week held off ruling on the Dish/DBSD offer until March 15, so creditors and the companies could discuss the merits of both deals.
Reston, Va.-based TerreStar Networks, which is trying to build the first satellite smartphone, filed for Chapter 11 protection in Manhattan in October with a plan calling for secured noteholders such as EchoStar to swap more than $850 million in debt for nearly all the equity in a reorganized TerreStar. More junior creditors, however, would have received just pennies on the dollar, and existing equity holders would have gotten nothing.
Even with that deal canceled, the debtor-in-possession financing for TerreStar Networks will remain in place, although the company will no longer be required to meet certain "milestones" depicted in that financing agreement.
The public parent TerreStar Corp. and other affiliates filed for Chapter 11 in February, and are working on plans of reorganization separate from TerreStar Networks.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection.)
-By Joseph Checkler; Dow Jones Newswires; 212-416-2152; joseph.checkler@dowjones.com"
Saturday, March 5, 2011
DBSD Unsecured Creditors List
DBSD - Unsecured Creditors List
Qualcomm Incorpated is a Creditor of DBSD
DBSD Bankruptcy - DIP Financing
Got a Tip ?
Crystal@CrystalCox.com
Satellite firm offers 4G Network on back of 2G Business Model
By Bill Ray • Get more from this author
Posted in Mobile, 31st May 2010 09:02 GMT
The Register Guide to Enterprise Virtualization
Harbinger is an equity fund with really big plans: the idea is to build a national 4G network of 36,000 base stations using LTE technology, and then lease it to network operators too poor to build their own.
But to do that the company will have to launch a satellite or two and raise some serious cash, but if it can be done then the mobile business will change forever.
Building a mobile network requires enormous amounts of cash - some estimates claim you shouldn't be sitting down unless you've got $40bn to put on the table - but Harbinger reckons that with a suitably flexible FCC and a couple of satellite launches it can get the network operable for something in the region of $6bn.
The first cost saving comes from those satellites, or at least the frequencies in which they operate. Harbinger has bought into two satellite operators, getting compete ownership of SkyTerra and a decent stake in TerreStar Networks.
With SkyTerra, Harbinger has access to 21MHz of national radio spectrum, but not in one place and most of it reserved for satellite use, under existing rules.
The plan is to take advantage of a loophole in those rules to run a ground-based service that can compete with the incumbents on a level playing field.
Satellites have dedicated frequencies, but the limited transmission power of the satellite and the opaque nature of most rooftops limits the effective coverage, particularly indoors.
For that reason satellite operators are permitted to run base stations on the ground, at the same frequency, to fill in the gaps caused by radio shadows.
In the UK we call that the Complementary Ground Component (CGC), and Ofcom intends to bill for its use. In the USA it's know as the Ancillary Terrestrial Component (ATC) and is free to use with the satellite licence.
So imagine for a moment that a satellite operator decides to build a national network of ground components just as a cellular operator does.
Further imagine that said operator never gets round to launching any satellites.
Now our operator can compete with the incumbent cellular operators without having to spend billions on cellular frequencies.
Such a thing wouldn't be allowed, of course, as the rules covering the spectrum require it to be used to satellite connections, but the FCC has been searching for a way to release that spectrum (as part of the National Broadband Plan), and sure enough last month the FCC approved Harbinger's business plan - relaxing the rules to a considerable degree.
Harbinger will still be required to launch a satellite or two, but it can start building the network first and worry about providing in-fill using satellites later.
So Harbinger will be allowed to build a 4G Network, and the FCC will even prevent any of the incumbents buying up more than 25 per cent of the capacity to ensure that it remains a wholesale operation.
Those incumbents are obviously up in arms. They valued the spectrum based on obligation to launch satellites - still an expensive business - and the business model for satellite telephones is far from proven. Military contracts and written-off debts keep Iridium in the air, but barely, so the operators had nothing to fear from satellite services unless they come to ground as Harbinger intends.
But ignoring sabre rattling from the incumbents, is Harbinger's plan really rational?
Can a newcomer really build out a national network and make money on it?
It certainly won't be easy. The business plan calls for 36,000 base stations, which is a considerable undertaking by anyone's standards, and none of those base stations will be operating in bands already earmarked for LTE use.
That means handsets and networking kit will have to be remarkably flexible. Existing networks operate within strict bands, allowing a handset to scan a few bands and locate a compatible operator, but deploying LTE at such unusual frequencies will need an even more flexible approach with the requisite additional development and testing.
Harbinger's budget also doesn't seem to include sufficient running costs for the new network: the if-you-build-it-they-will-come approach. The plan is based on 40 million predicted connections within the next five years, which is a hell of a lot even if one is selling wholesale.
Rumours are that T-Mobile is interested in doing a deal with Harbinger, but as the only operator not building its own 4G network T-Mobile would be remiss not to hold talks even if no agreement is reached.
Harbinger also lists "PC manufacturers, national retailers, service providers without wireless capacity, CE manufacturers and mobile providers" as potential customers, and it'll need all of those to achieve 40 million connections.
But beyond the basic incredulity at the audacious scale of the plan are real concerns about the skills and experience that Harbinger can bring to bear.
The fund recently drafted in ex-Orange boss Sanjiv Ahuja to run things, which is a good start, but just as you can't build a network overnight, you can't build a network operator overnight.
Harbinger will no doubt outsource as much as possible, but the fund will likely find the network operator's club a hard one to join, especially if the existing members don't want to play."
Source of Philip Falcone, Harbinger Capital Partners, Lightsquared Post
http://www.theregister.co.uk/2010/05/31/harbinger/
Thursday, March 3, 2011
Was the DBSD - TerreStar Bankruptcy Bids a "Staged Event"
A pair of hedge funds are complicating Charlie Ergen’s bids to take control of two struggling satellite companies that are reorganizing in bankruptcy.
Harbinger Capital Partners and Solus Capital Management are bidding to buy the two companies, which Ergen’s Dish Network and EchoStar appeared to be on the verge of acquiring a few weeks ago."
"
Now, according to Credit Suisse, Harbinger/Solus has counterbid for TerreStar, too.
The reason appears to be to gain control of the 40 megahertz of broadcast spectrum that DBSD and TerreStar control.
The spectrum could be used for mobile broadband, voice, video or a combination of services
Harbinger is the fund behind LightSquared, a company trying to launch wireless voice and data services nationwide.
LightSquared plans to launch its service in a couple test markets, including Denver, this year.
It’s said to be in talks with Sprint, letting Sprint use some of its spectrum, Chaplin wrote. He theorized Harbinger/Solus may want to combine the spectrum assets of TerreStar and DBSD and make them part of LightSquared.
LightSquared used to be part of TerreStar years ago, but was spun off to become a independent company."
"Further complicating the situation: LightSquared leases its spectrum from TerreStar, while TerreStar uses broadcast technology that it licenses from a LightSquared subsidiary."
http://www.bizjournals.com/denver/blog/boosters_bits/2011/03/ergens-takeover-bids-are-running-into.html
Also Note that Sprint is in a constant "Objection" and "Spar" over something in the TerreStar Bankrtuptcy.
And seems to always be in some stir in the DBSD Bankruptcy
http://www.law360.com/topnews/articles/125734/judge-nixes-1-9b-in-sprint-claims-in-dbsd-ch-11
Much More on All this Coming Soon.
Got a Tip ? eMail Me
Crystal@CrystalCox.com
ICO Global Communications and Terrestar Googled Harbinger Capital Partners Offshore Manager, LLC by
"ICO Global Communications and Terrestar"
http://www.sanjivahuja.com/search/label/Motient%20Communications
So Why is Harbinger Capital Partners Googling "ICO Global Communications and Terrestar and What Are they Hoping To Find ?
VISITOR ANALYSIS | |
Referrer | http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4ADBF_enUS342US343&q=ICO global communications and terrestar |
Search Engine Phrase | ICO global communications and terrestar |
Search Engine Name | |
Search Engine Host | www.google.com |
Host Name | |
IP Address | 63.116.60.124 Harbinger [Edit Label] |
Country | United States |
Region | New York |
City | New York |
ISP | Harbinger Capital Partners Offshore Manager, Llc |
Returning Visits | 0 |
Visit Length | 0 seconds |
VISITOR SYSTEM SPECS | |
Browser | IE 8.0 |
Operating System | WinXP |
Resolution | 1280x1024 |
Javascript | Enabled |
Navigation Path
Wednesday, March 2, 2011
Philip Falcone, Harbinger Capital Partners, Lightsquare - DBSD Bankruptcy, EchoStar, Dish Network Things to Ponder
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201103021523dowjonesdjonline000547&title=harbinger-offer-sets-back-dbsd-11-billion-sale-to-dish-network
" ... giving DBSD and its creditors time to discuss details of the Dish plan and a competing plan by Phil Falcone's Harbinger Capital Partners hedge-fund firm and fellow investment company Solus Alternative Asset Management. "
http://www.investigativeblogger.com/2011/03/solus-alternative-asset-management-lp.html
So Philip Falcone, Harbinger Capital Partners is Really going to Get DBSD North America.
Will Philip Falcone, Harbinger Capital Partners STOP the Hughes Communication Sale to or WillTelecommunications Mogul Charles Ergen Just Give Up, possibly because of Some Deal that DISH Network and EchoStar is Making to Retail Spectrum for the Spectrum Wholesaler (Lightsquared - Harbinger Capital Partners ?)
http://www.investigativeblogger.com/2011/02/is-this-headline-really-true-i-think.html
Telecommunications Mogul Charles Ergen is very Smart, I bet there is something BIG in this for Charles Ergen, DISH Network and EchoStar. And that Charles Ergen knew about it all along.
Weil Gotshal Briefing - Business Finance and Restructuring Report
http://www.sanjivahuja.com/2011/02/terrestar-networks-inc-bankruptcy-what_26.html
http://www.investigativeblogger.com/2011/02/is-credit-suisse-right-on-suggesting.html
Philip Falcone, Harbinger Capital Partners and in the best interest of Philip Falcone, Harbinger Capital Partners AND in no way in the Best interest of the "Creditors" or the "Shareholders" of either TerreStar or DBSD - in My "Opinion" of Course.
Calpine (CPN): 18.47%
Sprint Nextel (S): 15.35% "
Read more at Source
http://www.marketfolly.com/2010/02/phil-falcones-harbinger-capital-bets.html#ixzz1FUTsMSUq
are part of the Ad Hoc Committe that "Opposed" the EchoStar Plan Right
Note Here:
Solus Alternative Asset Management LP from Todays News Bidding on DBSD with Philip Falcone, Harbinger Capital Partners - Solus Alternative Asset Management LP is Sola LTD
http://www.sanjivahuja.com/2011/02/ad-hoc-group-senior-secured-payment-in.html
**********
http://www.sanjivahuja.com/2011/02/terrestar-networks-inc-bankruptcy-what_26.html
DBSD North America Bankruptcy or the Terrestar Bankruptcy Have Inside Document
Click for Who is ON the Creditors Committee
Also Note that Philip Falcone, Harbinger Capital Partners is in Deals with Sprint
http://www.sanjivahuja.com/2011/02/ad-hoc-group-senior-secured-payment-in.html
http://www.reuters.com/article/2010/07/20/us-nokiasiemens-harbinger-idUSTRE66J2ZT20100720
Nokia Siemens wins $7 billion U.S. deal
So it Would Seem to me, Logical thinking and all that Nokia Siemens Networks US LLC on the TerreStar Creditors Committee would do anything that Philip Falcone, Harbinger Capital Partners , LightSquared told them to and was in the best interest ofPhilip Falcone, Harbinger Capital Partners , LightSquared for that would also be in the best interest of Nokia Siemens Networks US LLC .
http://www.investigativeblogger.com/2011/02/unredacted-space-systemsloral-inc.html
John Bicks seems to have
John Bicks seems to have
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingORIG1?ID=1821751&SessionID=inzoHFEXcwFiX77John Bicks Links and Resources
http://www.sanjivahuja.com/2011/02/echostar-holding-purchasing-corporation.html
EchoStar Either never had a Shot at DBSD or TerreStar (Smoke and Mirrors) Or EchoStar - Dish Network is in Bed With Philip Falcone, Harbinger Capital Partners , LightSquared
http://www.sanjivahuja.com/2011/02/of-course-echostar-wants-terrestar-but.html
***********
http://www.delawarelitigation.com/highlandlegacy.pdf
Motient Communications - Gary Singer
Motient Communications - TerreStar Merger
http://www.investigativeblogger.com/2011/02/motient-communications-inc-terrestar.html
http://www.investigativeblogger.com/search/label/Motient%20Communications
http://www.institutionalinvestor.com/article.aspx?articleID=2457878
http://terrestarcorprestructuring.com/pdflib/23_10612.pdf
http://business-finance-restructuring.weil.com/chapter-11-plans/no-gift-for-you-the-second-circuits-dbsd-decision-rejects-gifting-under-chapter-11-plans/
http://www.southbaylawfirm.com/blog/?tag=dbsd-north-america
http://www.srz.com/files/News/3cf66c8f-21fd-4e95-abb2-230ae320125b/Presentation/NewsAttachment/27721c17-d5a5-4b5b-a646-24a45aaeb575/021011_Second_Circuit_Holds_that_Gifting_Violates_Rule.pdf
http://www.pepperlaw.com/publications_update.aspx?ArticleKey=2009
December 22, 2009 - DBSD North America Bankruptcy Archives
http://dockets.justia.com/docket/new-york/nysdce/1:2009cv10373/356308/
Presiding Judge: | Judge Lewis A. Kaplan |
---|
http://dockets.justia.com/docket/new-york/nysdce/1:2009cv09144/354267/
Appellant: | Sprint Nextel Corporation |
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http://business-finance-restructuring.weil.com/wp-content/uploads/2011/02/DBSD-Opinion-and-Concurrence1.pdf
"Shortly after DBSD filed its plan disclosure, DISH purchased all of the First Lien
http://www.investigativeblogger.com/2011/03/dbsd-bankruptcy-sprint-nextel.html
http://abi-educational-materials.s3.amazonaws.com/elearning/Chapter11_Business/ASM10_INVE.pdf
http://www.nysb.uscourts.gov/opinions/reg/180446_434_opinion.pdf
the TerreStar Corporation Bankruptcy.