Globalstar halts payments on debts to conserve cash

Article Abstract:

Globalstar Telecommunications Ltd. announced that it is stopping debt payments to creditors in an attempt to save cash. The company also said it suspended preferred stock dividend payments for the same reason.

Debt, Globalstar Telecommunications Ltd., GSTRF

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MCI strikes deal with two groups of its creditors

Article Abstract:

MCI has reached a deal with two creditor groups which had opposed the company's plan to come out of bankruptcy protection. The deal helps clear the way for MCI to come out of Chapter 11 protection.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Communications industry, MCI Inc., Company financing, Bankruptcy, Company bankruptcy

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Global TeleSystems to skip payments due on two bonds

Article Abstract:

Global TeleSystems Inc. will default on interest payments for two bonds. The payments are worth approximately 27 million euros.

Bonds, Bonds (Securities), Global TeleSystems Inc., GTSG

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