Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.99

+0.9%

9:41 AM EST

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To: Rocket Scientist who wrote (21687)	2/1/2001 11:09:38 AM
From: Pierre	Read Replies (1) of 29987

...but Loral as the controlling partner of LQSS, and the single largest debt holder of GLP (they own 27% of G's debt which I venture to guess exceeds the combined face value of the notes you and pcstel hold by a factor of several, to say the least) will have a major role in the designa and approval of any restructuring, ... RS, doesn't that mean they own less than 30% of the outstanding debt? That leaves the bond holders and Q with a better than 2 to 1 ratio over LOR. We can do without LOR, but we can't due without Q* - that's been my point. It's "what have you done for me lately (outside of putting me in BK, of course), or more accurately "what can you do for me going forward?" and it has well earned that role. Well, like I said - "What have you done for me lately," and more importantly, now that you're tapped and unwilling to put up any more money, "what can you do for me going forward"? It's a cruel world out there. Ask the equity holders that put up a huge chunk of the funds to build that system. I believe LOR just recently told them to pound sand. So did the rest of the partners. I think now it's LOR's turn to pound a little sand. I wouldn't be too sanguine about LOR running the show going forward. I'm certainly not, or I wouldn't have bought the bonds. Pierre

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