Straining under a debt burden in excess of $1 billion, TerreStar Networks filed a petition for Chapter 11 protection with a New York bankruptcy court on Tuesday. Known formerly as Motient Corp., TerreStar is in the midst of deploying a hybrid terrestrial/mobile satellite network that would serve rural and other hard-to-reach areas in the U.S.
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USA, New York, Insolvency & Restructuring, Litigation, Telecoms, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Bankruptcy, Shareholder, Marketing, Debt, Liability (financial accounting), Legal burden of proof, Balance sheet, US Securities and Exchange Commission, AT&T, EchoStar, United States bankruptcy court
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