TERRESTAR NETWORKS INC. Bankruptcy Filing
Case Number: 10-15446
TERRESTAR NETWORKS INC. filed a 11 chapter bankruptcy in the Southern District of New York bankruptcy court on October 19, 2010. This is a voluntary filing; it was assigned the bankruptcy case number #10-15446.
TERRESTAR NETWORKS INC. Filing Information
The bankruptcy petition for TERRESTAR NETWORKS INC. showed assets in the range of more than $1B with liabilities in the range of more than $1B. TERRESTAR NETWORKS INC. reports that the number of creditors is in the range of 1,000-5,000.
The debtor indicated their nature of business as 'None of the Above'. The nature of business option is fairly limited; most companies will chose 'None of the Above'. The options include: 'Health Care Business', 'Single Asset Real Estate', 'Railroad', 'Stockbroker', 'Commodity Broker', 'Clearing Bank', or 'None of the Above'.
TERRESTAR NETWORKS INC. indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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TERRESTAR NETWORKS INC. Docket Header
MDisCs, Lead, MEGA, CLMAGT, PENAP |
Southern District of New York (Manhattan)
Bankruptcy Petition #: 10-15446-shl
Assigned to: Judge Sean H. Lane Chapter 11 Voluntary Asset |
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| Debtor TerreStar Networks Inc. 12010 Sunset Hills Road 6th Floor Reston, VA 20190 OUTSIDE U. S. Tax ID / EIN: 32-0003931 |
rep. by |
Ashleigh Blaylock
Akin Gump Strauss Hauer & Feld LLP 1333 New Hampshire Avenue, NW Washington, DC 20036 (202)887-4000 Email: blaylocka @ akingump.com Ira S. Dizengoff Akin, Gump, Strauss, Hauer & Feld, LLP One Bryant Park New York, NY 10036 (212) 872-1000 Fax : (212) 872-1002 Email: idizengoff @ akingump.com |
| U.S. Trustee United States Trustee 33 Whitehall Street 21st Floor New York, NY 10004 (212) 510-0500 |
rep. by |
Richard C. Morrissey
Office of the U.S. Trustee 33 Whitehall Street, 21st Fl. New York, NY 10004 (212) 510-0500 Fax : (212) 668-2255 Email: richard.morrissey @ usdoj.gov Susan D. Golden Office of United States Trustee SDNY 33 Whitehall Street New York, NY 10004 (212) 510-0500 Fax : (212) 668-2255 Email: susan.golden @ usdoj.gov |
| Claims and Noticing Agent GCG, Inc. a/k/a The Garden City Group, Inc. 1985 Marcus Ave Lake Success, NY 11042 (631) 470-5000 |
rep. by |
Jeffrey S. Stein
GCG, Inc. 1985 Marcus Avenue Suite 200 Lake Success, NY 11042 (631) 470-5000 Fax : (631) 940-6554 Email: PACERTeam @ gardencitygroup.com |
| Claims and Noticing Agent GCG, Inc. a/k/a The Garden City Group, Inc. 1985 Marcus Ave Lake Success, NY 11042 (631) 470-5000 TERMINATED: 10/21/2010 |
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| Creditor Committee Official Committee of Unsecured Creditors of TerreStar Networks, Inc. |
rep. by | Scott L. Hazan
Otterbourg, Steindler, Houston, & Rosen 230 Park Avenue New York, NY 10169 212-661-9100 Fax : 212-682-6104 Email: shazan @ oshr.com |