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Technology Stocks : Loral Space & Communications
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To: Clean who wrote (10568)8/8/2003 1:24:04 PM
From: pcstel  Read Replies (1) of 10852
 
wonder who got paid what in that time period with lor, and if bernie figured it correctly, he could bank on getting that money back.

That's easy! Loral paid Globalstar the ~2.3 million refund for work that was never performed on Globalstar II, 4 days before they filed Bankruptcy. By completing the transaction, Bernie got Loral and himself personal indemnification for Globalstar's Creditors. Now, he files BK and will claim "priority payments" were made to Globalstar.

PCSTEL
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