SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G*
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
Loral Space & Communications Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
543881106
(CUSIP Number)
December 31, 2007
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 6 Pages)
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*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 543881106 13G Page 2 of 6 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
SOLUS ALTERNATIVE ASSET MANAGEMENT LP
EIN: 26-0173326
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
1,575,000
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
N/A
OWNED BY ___________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
1,575,000
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
N/A
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,575,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
7.77%
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(12) TYPE OF REPORTING PERSON **
IA
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CUSIP No. 543881106 13G Page 3 of 6 Pages
Item 1(a). Name of Issuer: Loral Space & Communications Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
600 Third Avenue, New York, New York 10016
Item 2(a). Name of Person Filing:
This statement is filed by: Solus Alternative Asset Management LP
The foregoing persons are hereinafter sometimes collectively
referred to as the "Reporting Persons." Any disclosures herein with respect to
persons other than the Reporting Persons are made on information and belief
after making inquiry to the appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
430 Park Avenue, 9Th Floor, New York, Ny 10022
Item 2(c). Citizenship: DELAWARE
Item 2(d). Title of Class of Securities: COMMON STOCK
Item 2(e). CUSIP Number: 543881106
CUSIP No. 543881106 13G Page 4 of 6 Pages
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [X] Investment Adviser in accordance with Rule 13d-1
(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check the box. [ ]
Item 4. Ownership.
(a) Amount beneficially owned: 1,575,000
(b) Percent of class: 7.77%
(c)(i) Sole power to vote or direct the vote: 1,575,000
(ii) Shared power to vote or direct the vote: N/A
(iii) Sole power to dispose or direct the disposition: 1,575,000
(iv) Shared power to dispose or direct the disposition: N/A
CUSIP No. 543881106 13G Page 5 of 6 Pages
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
As of December 31, 2007, accounts managed on a discretionary basis by the
Reporting Person had the right to receive or the power to direct the receipt of
dividends or the proceeds from the sale of the Common Stock. One such account,
SOLA LTD, had the right to receive or the power to direct the receipt of
dividends or the proceeds from the sale of more than 5% of the Common Stock.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
N/A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification.
The Reporting Person hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
CUSIP No. 543881106 13G Page 6 of 6 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: February 14, 2008
Solus Alternative Asset Management Lp
By:/s/ Joseph Lonetto
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Name: Joseph Lonetto
Title: Chief Legal Officer