Dish's $1.4B TerreStar Bid Approved For Auction

Law360, New York (June 21, 2011, 4:06 PM EDT) -- A New York bankruptcy judge gave his blessing Tuesday to Dish Network Corp.'s $1.4 billion stalking horse bid for bankrupt satellite communications company TerreStar Network Inc., paving the way for a June 30 auction.

“The lack of objections is a reflection of this being a good event for all concerned," U.S. Bankruptcy Judge Sean H. Lane said at a hearing.

Reston, Va.-based TerreStar, which filed for Chapter 11 in October, must continue to solicit additional bids through June 27, Arik Preis of Akin Gump Strauss Hauer...
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