TerreStar Wins Interim Approval for EchoStar Loan

TerreStar Networks Inc., a satellite mobile-communications company, won court approval to begin borrowing from EchoStar Corp., the telecommunications company financing TerreStar’s bankruptcy restructuring.

U.S. Bankruptcy Judge Sean Lane in Manhattan today approved an order allowing TerreStar, a unit of TerreStar Corp., to borrow as much as $18 million of a $75 million loan from EchoStar. TerreStar will return to court in November for permission to borrow the remainder.