ITS BEEN CONFIRMED FROM A RELIABLE SOURCE. THERE WILL BE CHAPTER 7 BANKRUPTCY
17 replies (most recent on top)
@aq they COULD, but they dont want to. Hughes has mentioned in the past that they cannot rely on echostar to bail them out when things get shaky, even though they are closing the $23 billion deal with DISH, Hughes is again left out of that completely and needs to finds its own way of dealing with its debt
@aq Nope, we are on our own. That belongs to the Echostar, not hughes entities.
@ak Unfortunately, they (echostar and parent company) will use that for other things likes investments and their debts. They do not have to use that. Hughes operates independently but Charlies hoarded the Hughes cash for the failed 5G aspirations. We are short due to his incompetence
They just received money from ATT today and repaid the Dish loan .. then they can pay for Hughes debt also ? Right ?
what is the difference between dish and hughes, both of them paid the special dividend to echostar, right now, echostar fully paid dish bondholders, is it because dish bondholders sue them?
@ak echostar assets/capitals even jupiter 3 are off the hook with this one, they will have to fight a court case if bondholders want that money.
@aj ATT spectrum sale just closed, 20B is in Echostar account, don't think that bondholder will accept chapter7
@ah they will milk it till they get the last 1$ profit, hughes is still profitable
@ae yet how will they pay it, will they pay it will remain a mystery when every competitor offers something so much more superior wherever you go... I dont wanna scare people with the thought, but i really dont see any reasonable approach apart from get rid of everyone until its i/me/myself left.
If bondholders are pi---d off they will go for chapter 7 and file a lawsuit. it all depends on how the negotations go
abandon your posts flee for your lives
Technically, they are planning on chapter 11, and it has not yet officially started; We have a 1.5B payment Aug 1 or something like that. You go to bankruptcy to halt the payment altogether. That is what is pending. You then pay what the courts decide after the case. Hope this helps and prayers to those affected.
@aa if you look at the state of affairs at hughes and operations, chapter 7 sounds more likely than chapter 11. The layoffs were all by design for it to collapse all together.
The OP here is "Charlie Ergen." While I'm sure he does write in all caps like that, I'm betting this is a troll comment, which is in extremely poor taste.
Whats the source, you sure you're not confusing it for Chapter 11 Bankruptcy? Even though its debt refinancing, it's going to be significantly different than DISH, Hughes has significantly less leverage...
WSJ clearly reported that it will be a Chapter 11 Bankruptcy (debt refinancing) with a pre-negotiated deal with debtors. It's not a Chapter 7 bankruptcy (liquidation)... atleast not yet.
Would you divulge more details, and who the reliable source may be? Is there a plan to sell off whatever is left of the Hughes business?
If this is just fearmongering and sensationalism, please refrain. We at Hughes are being put through the wringer as it is.