Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.70

+6.1%

Jan 12 3:59 PM EST

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To: Thomas who wrote (21155)	1/16/2001 12:04:24 PM
From: Michaelth1	Read Replies (2) of 29987

The question that I have is what would bondholders gain from forcing BK? There are few hard assets held by G, if my memory serves me correctly, other than the sats. There's not much of a cash balance, either (if BK is forced, all creditors of G have an equal claim to the cash, not just those who forced the BK). So, what does forcing BK get the bondholders? True, it's a stick for them to hold over the company's head when trying to work out a deal, but the end result is more of a harm to G* than a benefit to the SPs.

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