$3.8M Qualcomm Claim OK'd In Terrestar Ch. 11

Law360, New York (April 28, 2011, 2:04 PM EDT) -- A New York bankruptcy court on Wednesday approved the resolution of a claim between TerreStar Networks Inc. and Qualcomm Inc. in TerreStar's Chapter 11, allowing a $427,000 priority claim and an unsecured $3.4 million claim that the satellite operator had initially rejected.

TerreStar and other affiliates first filed for Chapter 11 protection in October with plans to pursue a debt-for-equity conversion to reduce more than $1 billion in liabilities with help from EchoStar Corp., but the company later dropped its bid to buy the company. TerreStar...
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