Comments on: Understanding the TerreStar bankruptcy filing https://tmfassociates.com/blog/2010/10/19/understanding-the-terrestar-bankruptcy-filing/ Satellites, spectrum and other stuff Tue, 03 Feb 2026 21:36:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: timfarrar https://tmfassociates.com/blog/2010/10/19/understanding-the-terrestar-bankruptcy-filing/comment-page-1/#comment-475 timfarrar Thu, 21 Oct 2010 21:35:07 +0000 http://tmfassociates.com/blog/?p=647#comment-475 According to the Epstein declaration (footnote 36 on page 30), "At that time [when negotiations commenced in April 2010], and up until recently, the Debtors contemplated that TSC [TerreStar Corporation] and TerreStar Holdings would file for chapter 11 as well. In light of recent events, including, without limitation, the agreement by certain parties to toll the litigation they were bringing against TSC, the Debtors decided that filing these entities for chapter 11 at this time would not be necessary, but note that such a filing may be necessary in the future". Thus it appears that (at least for the time being) Highland Capital have suspended their litigation to force TerreStar Corporation to redeem their $90M of preferred stock. According to the Epstein declaration (footnote 36 on page 30), “At that time [when negotiations commenced in April 2010], and up until recently, the Debtors contemplated that TSC [TerreStar Corporation] and TerreStar Holdings would file for chapter 11 as well. In light of recent events, including, without limitation, the agreement by certain parties to toll the litigation they were bringing against TSC, the Debtors decided that filing these entities for chapter 11 at this time would not be necessary, but note that such a filing may be necessary in the future”.

Thus it appears that (at least for the time being) Highland Capital have suspended their litigation to force TerreStar Corporation to redeem their $90M of preferred stock.

]]> By: kit https://tmfassociates.com/blog/2010/10/19/understanding-the-terrestar-bankruptcy-filing/comment-page-1/#comment-474 kit Wed, 20 Oct 2010 15:59:20 +0000 http://tmfassociates.com/blog/?p=647#comment-474 Highland capital must be hopping mad here as they own a large chunk of the preferred and wants their money back. They most likely will try to force the issue and take the co under to get their money... Highland capital must be hopping mad here as they own a large chunk of the preferred and wants their money back. They most likely will try to force the issue and take the co under to get their money…

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