Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 62.88

-0.5%

Nov 14 3:59 PM EST

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To: Lu_Xun who wrote (21730)	2/2/2001 10:31:27 AM
From: Rocket Scientist	Read Replies (1) of 29987

Lord Polonius: "Neither a borrower nor a lender be; For loan oft loses both itself and friend," Hamlet, Prince of Denmark Act 1, Scene 3, cs.usyd.edu.au The bard also provided some useful insights regarding the G* potential bankruptcy, and steps the bondholders might take: "GLENDOWER I can call spirits from the vasty deep. HOTSPUR Why, so can I, or so can any man; But will they come when you do call for them? " (King Henry V part 1 Act 3 Scene 1) cs.usyd.edu.au In our litigious 21st century USA, any three b/h may be able to sue for bankruptcy, but does G* have to pay attention when the public bond holders' notes state that in event of default, a minimum of 25% of the effected noteholders have to petition a trustee to take action and that action can be stopped by any 51% of the debt holders? pcstel may be correct that the ability to "call for bankruptcy" may not be too useful in this case. I believe L&Q designed the G* capitalization so that they could never lose control of the company, just as Mot designed Irid's so it could walk away at any moment with minimum damage to itself.

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