According to Wallstreetcn, a U.S. trustee said EchoStar engaged in $1.5 billion of "unusual transactions" with its bankrupt subsidiary Hughes Satellite Systems and urged the court to appoint an examiner to investigate the deals. Bondholders have made a similar push, alleging that EchoStar stripped more than $1.5 billion of assets from Hughes over the past two years through a series of self-dealing transactions, while the court has scheduled a hearing next month on a possible examiner appointment and the scope of any investigation; Hughes said an examiner is unnecessary given its own ongoing investigation.
