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: pcstel who wrote (21758)	2/2/2001 11:29:11 AM
From: Rocket Scientist	Read Replies (1) of 29987

Well, there are other ways into C.11 than via the "trustee" declaring default after being petitioned by 25% of the noteholders. In the Iridium BK case, three holders of just 4.7M$ worth of bonds made the filing. Here is Docket Item 1 from that case: ecf.nysb.uscourts.gov This is consistent with the remarks on the last cc that "any three b/h" could trigger a filing. But taking into account that L+Q (apparently) own more than 50% of the senior debt, it might be a short case. I certainly do believe that BLS and IJ have a lot more control of the situation than those selling G* at 50 cents a share realize, and I'm happy to be a buyer again at these levels.

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