Intelsat S.A. (INTEQ) Social Stream

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$INTEQ While entering BK the picture painted was doom and gloom...it served a purpose...the purpose of hedge funds acquiring those debts of which we now know they have agreed to be settled at a certain rate and have sided with the debtor (mainly Tepper).

In the end, my view as to the primary reason for bankruptcy was to settle crap debts at a discount. They could have paid off those debts at full pop (or possibly less) OUTSIDE of BK but you can imagine it would have been far harder IMO when the prospect of $5B in cash is on the horizon.

Through BK and the C-Band lottery cash, Intelsat stands to come out a totally revamped company in terms of its capital structure to the point where it could potentially choose to be debt free if it wants to (although I don't think they will).

Of course SES doesn't like it b/c Intelsat will now be a true competitor.

The biggest hurdle was not getting shares cancelled & now knowing value could be coming from CVRs. That is a huge development IMO.