DBSD Bankruptcy - Sprint Nextel Corporation, Dish Network -

Robert E. Gerber, Bankruptcy Judge

"DISH NETWORK CORPORATION, Creditor-Appellant,

— v.—

DBSD NORTH AMERICA, INCORPORATED, Debtor-Appellee,

AD HOC COMMITTEE OF SENIOR NOTEHOLDERS,
OFFICIAL COMMITTEE OF UNSECURED CREDITORS,

Creditors-Appellees.

SPRINT NEXTEL CORPORATION "

"JOHN H. CULVER III (Felton E. Parrish, on the brief), K&L Gates LLP,
Charlotte, North Carolina, Eric T. Moser, on the brief, K&L Gates LLP, New
York, NY, for Creditor-Appellant Sprint Nextel Corporation.

YOSEF J. RIEMER (James H.M. Sprayregen, Lee Ann Stevenson, on the brief),Kirkland & Ellis LLP, New York, NY, Marc J. Carmel, Lauren M. Hawkins,on the brief, Kirkland & Ellis LLP, Chicago, IL, for Debtor-Appellee DBSD
North America, Incorporated.

THERESA A. FOUDY (Steven J. Reisman, Maryann Gallagher, on the brief),
Curtis, Mallet-Prevost, Colt & Mosle LLP, for Creditor-Appellee Official
Committee of Unsecured Creditors.

DENNIS F. DUNNE (Risa M. Rosenberg, on the brief), Milbank, Tweed, Hadley
& McCloy LLP, New York, NY, Andrew M. LeBlanc, on the brief, Milbank,
Tweed, Hadley & McCloy LLP, Washington, DC, for Creditor-Appellee Ad
Hoc Committee of Senior Noteholders.

EVAN M. JONES, O’Melveny & Myers LLP, Los Angeles, CA, Jennifer M.
Taylor, on the brief, O’Melveny & Myers LLP, San Francisco, CA, Elliot
Ganz, on the brief, Loan Syndications and Trading Association, New York,
NY, for Amicus Curiae Loan Syndications and Trading Associates

Sprint Nextel Corporation (“Sprint”) and DISH Network Corporation (“DISH”

BACKGROUND

The reader may find the full facts of this case in the decisions of both the
bankruptcy court, In re DBSD North America, Inc. (“DBSD I”), 419 B.R. 179 (Bankr.
S.D.N.Y. 2009); In re DBSD North America, Inc. (“DBSD II”) 421 B.R. 133 (Bankr.
S.D.N.Y. 2009), and the district court, In re DBSD North America, Inc. (“DBSD III”),
Nos. 09-cv-10156 (LAK), 09-cv-10372 (LAK), 09-cv-10373 (LAK), 2010 WL 1223109
(S.D.N.Y. Mar. 24, 2010); see also In re DBSD North America, Inc. (“DBSD IV”), 427
Case: 10-1175 Document: 261 Page: 4 02/07/2011 202891 535
1 B.R. 245 (S.D.N.Y. 2010) (affirming bankruptcy court’s treatment of Sprint’s claim).

We therefore focus only on the facts most pertinent to these appeals. ICO Global Communications founded DBSD in 2004 to develop a mobile communications network that would use both satellites and land-based transmission towers.

In its first five years, DBSD made progress toward this goal, successfully launching a satellite and obtaining certain spectrum licenses from the FCC, but it also accumulated a large amount of debt. Because its network remained in the developmental stage and had not become operational, DBSD had little if any revenue to offset its mounting obligations. "

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Read Full Document and Source of DBSD North America Bankruptcy Post
http://business-finance-restructuring.weil.com/wp-content/uploads/2011/02/DBSD-Opinion-and-Concurrence1.pdf