TerreStar Seeks Court Nod To Sell Assets

Bankrupt telecommunications company,TerreStar Networks, is seeking court approval to sell all of its assets,Reutersreports. Potential bidders will be required to submit their bids by June 8.

此举正值该公司提出的债务-equity restructuring deal with its largest secured creditor and digital set-top box maker,EchoStar, fell through in February. TerreStar and its 12 affiliates, with more than $1 billion of debt, filed for bankruptcy protection in October 2010.

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