8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):   July 2, 2010

TERRESTAR CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware	001-33546	93-0976127
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)
12010 Sunset Hills Road
Reston, VA		20190
(Address of Principal		(Zip Code)
Executive Offices)

Registrant’s telephone number, including area code:  703-483-7800

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

q Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

q Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

q Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

q Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01.     Regulation FD Disclosure

TerreStar Networks Inc., a majority-owned subsidiary of TerreStar Corporation, issued a press release, dated July 2, 2010, which is attached hereto as Exhibit 99.1. This exhibit is furnished, not filed, pursuant to Regulation FD.

Item 8.01.Other Events

TerreStar Networks Inc., a majority-owned subsidiary of TerreStar Corporation, issued a press release, dated July 2, 2010, which is attached hereto as Exhibit 99.1. This exhibit is furnished, not filed, pursuant to Regulation FD.

Item 9.01.     Exhibits

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	Press Release dated July 2, 2010

-2-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TERRESTAR CORPORATION
By:	/s/ Douglas Brandon
	Douglas Brandon
	General Counsel & Secretary

Date:  July 2, 2010

EX-99.1

Exhibit 99.1

TERRESTAR NETWORKS RENEWS IN-ORBIT INSURANCE, UPDATES GENUS™ ROLL OUT SCHEDULE

Reston, VA., July 2, 2010 – Mobile communications provider TerreStar Networks Inc. (“TerreStar”), a majority owned subsidiary of TerreStar Corporation (NASDAQ:  TSTR), announced today it has renewed the in-orbit insurance on TerreStar-1, the world’s largest and most powerful commercial communications satellite, for one additional year.  

TerreStar also announced it expects to begin commercial roll out of the TerreStar GENUS™, the world’s first dual-mode satellite-cellular smartphone, in September 2010.

“TerreStar-1 continues to exceed performance expectations, and I am pleased with support we received from the insurance community,” stated Jeffrey W. Epstein, president and chief executive officer, TerreStar. “Further, while we have delayed the launch of our GENUS™ handset, this additional time ensures that when we launch service, the GENUS will truly revolutionize mobile communications for first responders, enterprise users, and those in areas where terrestrial networks are unavailable.”

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About TerreStar Corporation

TerreStar Corporation is the controlling shareholder of TerreStar Networks Inc. and TerreStar Global Ltd. For additional information on TerreStar Corporation, please visit the company's website at www.terrestar.com.

About TerreStar Networks Inc.

TerreStar Networks (www.terrestar.com), a majority owned subsidiary of TerreStar Corporation (NASDAQ: TSTR), plans to offer a reliable and secure satellite terrestrial mobile broadband network that will provide voice, data and video services dedicated to helping solve the critical communication and business continuity challenges faced by government, emergency responders, enterprise businesses and rural communities.   TerreStar expects to offer next generation mobile communications through a network of partners and service providers to users who need “anywhere” coverage throughout the United States and Canada.

Statement under the Private Securities Litigation Reform Act:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the strategy of TerreStar Corporation, its plans, and the transactions described in this press release. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words and terms in connection with future results. We assume no obligation to update or supplement such forward-looking statements.

Media Contact:

Kelly Adams, TerreStar Networks

703.483.7966

Kelly.Adams@terrestar.com