TerreStar Reaches Loan Settlement With Lenders

Law360, New York (September 22, 2011, 8:16 PM EDT) -- Satellite communications company TerreStar Networks Inc. said Wednesday it had reached a settlement in New York bankruptcy court with its creditors' committee, collateral agent and several lenders in a suit over a $100 million purchase money credit agreement.

Under the settlement, which is awaiting court approval, TerreStar would pay various fees incurred by lenders EchoStar Corp. and Harbinger Capital Partners and collateral agent U.S. Bank National Association in exchange for its release from litigation over the outstanding PMCA. The deal would also allow a $97.9 million...
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