TerreStar Wins Approval For $75M DIP From EchoStar

Law360, New York (November 16, 2010, 7:29 PM EST) -- A judge granted approval Tuesday to bankrupt TerreStar Networks Inc.'s $75 million loan from EchoStar Corp. despite creditor concerns that the financing package locks the reorganizing company into a debt-for-equity swap deal with EchoStar.

Judge Sean H. Lane gave a green light to the debtor-in-possession package following a lengthy hearing in the U.S. Bankruptcy Court for the Southern District of New York but did not allow for certain liens sought by the fellow satellite company, according to several attorneys involved in the proceedings.

The approval came...
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