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Technology Stocks : Loral Space & Communications
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To: ebg51 who wrote (10732)3/15/2005 8:40:25 AM
From: Jeff Vayda  Read Replies (2) of 10852
 
Conclusion from the Examiner’s court ordered quick review of Loral’s submitted value.
(US Bankruptcy Court case no. 03-41710 (RDD)

1) The Debtors’ (Loral) valuation approach and techniques are generally reasonable and professionally acceptable. However, the Debtors applied certain common valuation methodologies selectively.

2) For the reasons discussed herein, the Examiners confirmatory due diligence suggests that Loral’s value range could be reasonably be estimated at between approximately $931 MM and $1.26 BN, exceeding the value range in the Disclosure Statement by $281MM to $463 MM.

3) This value assessment excludes any potential incremental value in Loral’s orbital slots and real estate value.

As an added note, the Examiner acknowledged the 45 orbital slots Loral recently held right to; 7 of which are currently being utilized in the business. 26 have been returned or intend to be returned to the regulatory authorities. Of the remainder, 12 Slots remain unused (6 over North America, 5 over Europe and Africa, and one over Asia) The examiner was not able due to the restrictions of the court order to value these remaining slots. But commented they were likely more than the $10 MM to $19 MM as valued by Loral.

We are still talking New York Lawyers, but this seems to be a victory in our on going battle with Bernie.
If you are a Loral stock holder and want to join the struggle, let me know.

So Bernie, how does this fit into "The Plan"?

Jeff Vayda
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