Appears more and more are realizing the market is crooked and getting their money OUT! Too bad the SEC didn't do a better job. Business Insider writes, "There's a huge disconnect in the US stock market right now.
A new Bank of America Merrill Lynch survey published Friday finds that US investors have pulled $79B out of equities year to date — including net outflows in 9 of the past 10 weeks — despite stock prices continuing to break new record highs"
Looks like the thieves have only themselves to play against now. LOL.
Also from Doc 2297 of the LS case, Line 14:
."..Cerberus and Solus’ debt either has been or will be purchased in the coming weeks (months prior
to the Effective Date). MAST’s claims will be bought by JPMorgan as soon as the Court
authorizes the Debtors’ use of cash collateral and the confirmation order becomes a final order."
-someone said that the last part of terrestar corp.(1.4 spectrum) was owned by Solus, So is Solus selling or has already sold the1.4?
20150786: Highland Funds II; TerreStar Corporation
Date: 2 de Abril de 2015
Highland Funds II
How do you deal with #$%$? Money must overshadow their morals. From the NY Times:
"Is This a Great Country, or What?
"America's Game" Is Gaming the Government: The U.S. Treasury recently took in more than $40 billion by auctioning off part of the wireless spectrum, but one buyer -- the Dish satellite-TV provider -- got a discount worth $3.25 billion by convincing the Federal Communications Commission that it is a "very small business" (despite its market value of $34 billion). Using awe-inspiring loophole-management, Dish created a separate company in partnership with a small Alaskan Natives' group, which theoretically "managed" the company -- though the Alaskans' hands were tied by an earlier Dish-friendly contract. Thus, Dish got the benefits of being "very small" while retaining control -- a "mockery" (said one commissioner) of the FCC's simple-minded attempt to help small businesses. [New York Times, 2-25-2015] "
It should have been noted the aforementioned article was a "COMMENTARY" stating the "OPINION" of Mr. Paul Leake. Not necessarily facts.
If it appears that a debtor’s chosen venue unduly prejudices other stakeholders in any particular case, there is a mechanism in place to remedy the problem. The bankruptcy court may transfer the case to any other district if the court determines that “the transfer is in the interest of justice or for the convenience of the parties.” This is the same standard that applies to changes of venue in non-bankruptcy federal litigation. Although relatively rare (in part because venue transfer motions themselves are relatively rare), bankruptcy venue transfers do occur, including in large, high-profile cases.
Moreover, the interests of creditors (and sometimes shareholders), including vendors, employees, bondholders and other institutional creditors, are almost always represented in large chapter 11 cases by official and unofficial committees. As such, the notion of stakeholders being unfairly hauled into a bankruptcy court thousands of miles from home where the debtor and its management have the upper hand is overplayed. Existing venue rules do not unduly prevent or impair the meaningful participation of stakeholders or undermine the integrity of the adjudicative process.
Paul Leake is a partner in Jones Day’s New York office and the global practice leader of the firm’s business restructuring and reorganization practice.
The bankruptcy venue requirements strike a fair balance between deference to a debtor’s chosen venue and the interests of other stakeholders. In our experience, a prudent venue choice by a debtor can enhance the progress and outcome of a chapter 11 case and thereby benefit all stakeholders. Further limiting a debtor’s venue choices is not necessary or advisable.
The current venue rules permit a debtor to file for bankruptcy in the district where the debtor is domiciled, resides, has a principal place of business, or has principal assets, generally within 180 days immediately preceding the filing date. A “piggy-back” filing may also be made in the district where there is another bankruptcy case pending with respect to an affiliate of the debtor.
Because these rules permit a bankruptcy filing in the debtor’s state of incorporation as well as the debtor’s principal place of business, a significant percentage of chapter 11 “mega-cases” are filed in either the District of Delaware, where many corporations are incorporated, or the Southern District of New York, which is generally recognized as the financial capital of the U.S. and where a number of corporations are either incorporated or have their principal place of business. These districts have become the preferred venues for complex chapter 11 cases because, among other things, the bankruptcy courts and judges involved have developed experience, expertise and procedures in complex chapter 11 cases. The progress of such cases is, therefore, efficient and predictable.
A federal legal regime—the bankruptcy code—applies in all U.S. bankruptcy cases, and applicable non-bankruptcy law is applied to state law disputes in chapter 11 cases regardless of venue. Thus, while there are material differences on some important bankruptcy legal issues among the circuits and districts, a substantial portion of the legal framework for any chapter 11 case is largely the same among the various courts.
If it appears that a debtor’s ch
Correct me if I'm wrong, but I believe a Schwartz and Perez each attempted to present the Jarvinian results in court but the results were dismissed as there wasn't an "expert" to present them. Even though the facts presented were accurate.
GSAT is the new Globalstar' ticker after they wiped out the shareholders (GSTRF) in their bankruptcy a few years back. At the time Globalstar (GSTRF) held the 2Ghz license that TSTR sold (LOL) to DISH during terrestar' bk . Same playbook.
John Dooley is the head of Jarvinian. which is the technical person of Globalstar and Terrestar. His company is the one that increased the value of our spectrum after bankruptcy. He owns a small part of Globalstar and Terrestar. He seems to be the front man in Terrestar to hide the identities of the real owners. He's not helping either company get spectrum approval. He also works with a company called Fibertower. He and Doug Brandon the former Terrestar lawyer works with them also. This is just a spectrum grab and hold on as tight as you can. They're not having much luck getting approvals.
-But isn't the Globalstar ticker GSAT?
-Who is John Dooley and why he's used terrestar (Inc) to bid on the FCC spectrum? how he could have taken over of the (Inc). while it still was in BK proceeding?
anyone here knows?
You're right on what you are saying. It looks like bankruptcy is just a game. The same thing is happening in Lightsquared. Shareholders in Terrestar said in court documents that the debtors were way out of money. But look at the last spectrum auction. They bought over 260,000 dollars of spectrum. Look at Lightsquared now. Solus just filed a plan to control Lightsquared with billions. These debtors that were supposedly out of money are spending billions. It's all just a game. It's a spectrum grab just like real estate.
This whole tstr downfall looked like the same playbook Globalstar (GSTRF) had. Even included a lawyer from Florida (as did the GSTRF scenario) suing. More things change the more they stay the same. And people don't trust the market....really?
I mean raysrehabandcare all one word submit a contact form entry with your ## ill call u id like to talk
go to raystouchandcae submit a contact form and I will call u leave a phone number please ... id like to know this info..
1% is NOT ownership of the stock and do you have a document proving this allegation? fyi 51% or more is ownership ... and that is falcone ... thanks
Why? Dooley holds 1% stock and all voting rights. He just got a big spectrum package, should revive the company.
Sentiment: Strong Buy