EchoStar Abandons Plans To Take Control Of TerreStar

Law360, New York (February 17, 2011, 5:30 PM EST) -- Satellite broadcaster EchoStar Corp. disclosed Thursday that it had terminated a restructuring support agreement that would have largely put it in control of bankrupt satellite communications company TerreStar Networks Inc.

In a filing with the U.S. Securities and Exchange Commission, EchoStar said the parties mutually agreed to end the restructuring support agreement, first entered into in November.

EchoStar did not go into any further detail. The announcement came just one day after TerreStar Networks withdrew its Chapter 11 plan in the U.S. Bankruptcy Court for the...
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