TerreStar Networks Parent's Ch. 11 Plan Confirmed

Law360, New York (October 10, 2012, 6:05 PM EDT) -- TerreStar Corp. and several subsidiaries are set to exit bankruptcy protection after a New York bankruptcy judge approved their Chapter 11 plan Wednesday, thanks largely to key settlements reached with Jefferies & Co., Sprint Communications Co. LP and Elektrobit Inc.

U.S. Bankruptcy Judge Sean H. Lane approved the TerreStar Networks Inc. parent's Chapter 11 plan, allowing it to follow the cellphone service provider out of bankruptcy protection, an attorney for the debtors told Law360 late Wednesday.

The plan enjoyed the support of an overwhelming majority of...
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