|Plan Confirmed||February 15, 2012|
|Deadline to file claims arising from the rejection of Executory Contracts or Unexpired Leases||March 16, 2012|
|Effective Date||March 29, 2012|
On October 19, 2010, TerreStar Networks Inc. and certain of its affiliates, TerreStar New York Inc., Motient Communications Inc., Motient Holdings Inc., Motient License Inc., Motient Services Inc., Motient Ventures Holding Inc., MVH Holdings Inc., TerreStar License Inc., TerreStar National Services Inc., TerreStar Networks (Canada) Inc., TerreStar Networks Holdings (Canada) Inc., and 0887729 B.C. Ltd. (collectively, the "Debtors") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Chapter 11 Cases") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). These Chapter 11 Cases have been assigned to the Honorable Sean H. Lane and are being jointly administered under the main case, TerreStar Networks Inc., case number 10-15446 (SHL).
On October 21, 2010, the Ontario Superior Court of Justice entered an Initial Recognition Order and a Supplemental Order under the Companies' Creditors Arrangement Act (the "CCAA") that, among other things: (i) recognized the Debtors' chapter 11 cases as foreign main proceedings; (ii) recognized TerreStar as the Foreign Representative of the Debtors; (iii) recognized certain orders granted by the Bankruptcy Court in the Debtors' chapter 11 cases (the "Recognition Proceeding"). Deloitte & Touche Inc. has been appointed Information Officer in the Recognition Proceeding. For more information regarding the Recognition Proceeding, please contact the Information Officer at Tel: (416) 601-6633 or access the Information Officer's website at www.deloitte.com/ca/terrestar-networks.
On November 8, 2010, the Bar Date Order was entered establishing December 10, 2010 at 5:00 p.m. (Eastern Time) as the deadline to file proofs of claim against the Debtors. The Bar Date Order established April 18, 2011 at 5:00 p.m. (Eastern Time) as the deadline for "governmental units" as defined by 11 U.S.C. section 101(27) of the Bankruptcy Code to submit proofs of claim against the Debtors. More information can be viewed by clicking on the Bar Date Pleadings tab on the left side of this page.
On November 9, 2010, the Debtors filed their Schedules of Assets and Liabilities & Statements of Financial Affairs. Copies of the Schedules of Assets and Liabilities & Statements of Financial Affairs can be viewed by clicking on appropriate tab on the left side of this page.
On November 5, 2010, TerreStar Networks Inc., TerreStar National Services Inc., 0887729 B.C. Ltd., TerreStar License Inc., TerreStar Networks Holdings (Canada) Inc., and TerreStar Networks (Canada) Inc., (collectively, the "TSN Debtors") filed a proposed Disclosure Statement and Plan of Reorganization (which was amended thereafter). A Final Disclosure Statement and procedures for soliciting votes on the Plan were approved by the court on December 22, 2010 at 11:00 a.m., and solicitation materials were distributed to all on or before December 30, 2010. On February 16, 2011, the TSN Debtors withdrew their Plan of Reorganization and cancelled the Confirmation Hearing. They also terminated the Backstop Commitment and Rights Offering. In addition, an Order was entered on February 23, 2011 modifying the Joint Administration Order to direct that certain of these Chapter 11 Cases, TerreStar New York Inc., Motient Communications Inc., Motient Holdings Inc., Motient License Inc., Motient Services Inc., Motient Ventures Holding Inc., and MVH Holdings Inc. (collectively, the "ATL Debtors"), be no longer jointly administered under this main case, TerreStar Networks Inc., et al. 10-15446 (SHL). The ATL Debtors are now jointly administered under TerreStar Corporation, et al. 11-10612 (SHL), which filed for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York on February 16, 2011. Additional information may be obtained by visiting the website for this proceeding at www.TerrestarCorpRestructuring.com. Pleadings filed on the docket can be found by clicking the relevant tabs on the left side of the page.
On November 18, 2011, the TSN Debtors filed a new Disclosure Statement and Plan of Reorganization, which were revised on December 6, December 19 and December 27, 2011. On December 21, 2011, the court entered an order approving the Disclosure Statement and establishing solicitation and voting procedures for the Joint Chapter 11 Plan of the Debtors.
A hearing to consider confirmation of the Joint Chapter 11 Plan was held on February 14, 2012. An order confirming the Joint Chapter 11 Plan was entered on February 15, 2012. On March 29, 2012, the plan was deemed effective. Copies of the Plan, Disclosure Statement, Order Confirming the Joint Chapter 11 Plan, and other related documents can be accessed by clicking on the Plan of Reorganization, Disclosure Statement and Related Documents tab on the left side of this page.
For information on scheduled hearings, click on the Scheduled Hearings tab at the left side of the page.
Please continue to visit this website from time to time for updates on these Chapter 11 Cases. Please note that neither the Clerk of the Bankruptcy Court nor The Garden City Group, Inc., the claims and noticing agent, is permitted to give legal advice.