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TerreStar May Opt For Chapter 11 Bankruptcy


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“Virgina-based mobile cimmunciations company TerreStar is preparing to file for Chapter 11 bankruptcy protection.

The company said it as attempting to roll out a satellite network for smart cell phones.

The network would have given users service in remote areas, or where traditional service failed to reach.

TerreStar signed a deal with AT&T (NYSE:T) to integrate their satellites its network in 2009.

Thus far, TerreStar has built one satellite, dubbed the TerreStar-1, and recently borrowed $100 million to construct a second.”

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Chapter 13 Bankruptcy

http://www.legalhelpers.com/ – Chapter 13 bankruptcy is something like debt consolidation, but has the power of the court behind it – Free bankruptcy evaluation – Legalhelpers.com -1-800-260-1402.

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