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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Vayda who wrote (10728)	10/19/2004 6:55:23 PM
From: ebg51	Respond to of 10852

I just believe the timing of this sale is too convenient to overlook that possibility

To: Jeff Vayda who wrote (10728)	10/26/2004 9:04:02 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 10852

Loral Files Revised Plan Of Reorganization And Disclosure Statement New York NY (SPX) Oct 26, 2004 (thanks to spacedaily.com)) Loral Space & Communications last Friday (October 22) filed a revised plan of reorganization (the "Plan") and a Disclosure Statement with the Bankruptcy Court. The company expects to exit chapter 11 under current management in the first-quarter of 2005. The Plan, which revises the terms of a Plan previously filed on August 19, 2004, reflects a consensual agreement on financial terms between the company and the Creditors' Committee appointed in the chapter 11 cases of Loral and certain of its subsidiaries. It is subject to final documentation and the resolution of certain other issues between the company and the Creditors' Committee and to confirmation by the bankruptcy court. It provides, among other things, that: - Loral's two businesses, Space Systems/Loral and Loral Skynet, will emerge intact as separate subsidiaries of reorganized Loral (New Loral). The Disclosure Statement establishes the enterprise value of New Loral at between approximately $650 million and approximately $800 million. - Space Systems/Loral, the satellite design and manufacturing business, will emerge debt-free. - The common stock of New Loral will be owned by Loral bondholders, Loral Orion bondholders and certain other unsecured creditors, as follows: - Loral bondholders and certain other unsecured creditors will receive approximately 19.4 percent of the common stock of New Loral. - Loral Orion unsecured creditors, including Loral Orion bondholders, will receive approximately 79.0 percent of New Loral's common stock plus $200 million in new senior secured notes to be issued by reorganized Loral Skynet. These creditors also will be offered the right to subscribe to purchase their pro-rata share of an additional $30 million in new senior secured notes to be issued by reorganized Loral Skynet. This rights offering will be backstopped by certain creditors who will receive a fee payable in the notes. - All other general unsecured creditors will have an option to elect to receive their pro rata share of approximately 1.6 percent of New Loral common stock or their pro rata share of $30 million in cash, subject to adjustment for over-subscription or under-subscription. - Existing common and preferred stock will be cancelled and no distribution will be made to current shareholders. - New Loral will emerge as a public company and will seek listing on a major stock exchang