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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

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To: slacker711 who wrote (44281)	1/24/2005 10:56:47 AM
From: slacker711	Read Replies (2) of 197217

Court Says NextWave Can Seek Vote From Creditors nytimes.com By BLOOMBERG NEWS Published: January 24, 2005 y Bloomberg News NextWave Telecom Inc., an owner of wireless airwaves in New York, Washington and other cities, has won court approval to have creditors vote on its plan to exit bankruptcy proceedings by paying shareholders as much as $3.2 billion. Typically, about two-thirds of a debtor's creditors must vote in favor of a plan before it can be considered by the court. All creditor votes are due by Feb. 22. Provided the company obtains enough votes, Judge Adlai S. Hardin of United States Bankruptcy Court will consider confirmation of the plan on March 1. Advertisement NextWave, based in Greenwich, Conn., filed for bankruptcy-law protection in 1998. "We're pleased that the judge has given us the green light to move to the next stage," a NextWave spokesman, Michael Wack, said. Under the terms of the plan, NextWave shareholders will receive as much as $8.16 a share, equal to as much as $3.2 billion, compared with $7.35 a share when the company originally filed the plan in December.

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