Elektrobit Inc. Objection to the Re-organization plan:
1. As the Court is aware, Elektrobit is one of the largest unsecured creditors of
TerreStar Corporation (“TSC”, and together with its affiliated debtors and debtors-in-possession (collectively, the “TSC Debtors”), having asserted a general unsecured claim against TSC’s estate in the amount of $27,869,769.82 (at least).
terrestarcorprestructuring.com/pdflib/222_10612.pdf
Jefferies & Company objects to the PLAN?:
Objection Deadline: October 3, 2011 at 5:00 p.m. (ET
17. The TSC Debtors estimate the Reorganization Value as being between $175 million and $185 million. (Id., Exhibit F ("Valuation Analysis") [Docket No. 152]).
Additionally, in a chapter 7 liquidation, the TSC Debtors anticipate that the liquidation proceeds available for distribution to creditors would range from $127 million to $147 million. (Id.,
Exhibit D ("Liquidation Analysis") [Docket No. 152])
terrestarcorprestructuring.com/pdflib/224_10612.pdf