ProtoStar Inc. Disclosure Statement Approved

Law360, New York (August 26, 2010, 7:42 PM EDT) -- A bankruptcy judge approved the disclosure statement of defunct satellite communications company ProtoStar Inc. Thursday, provided the debtor clarifies language regarding the treatment and consolidation of creditor classes.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware saw merit in Kiskadee Communications’ objections to a “global settlement” that ProtoStar reached with major parties in the case and what Kiskadee attorneys referred to as an “unusual classification scheme.”

“You’re making it very complicated, and I agree, for a creditor reading this, it is...
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