Sec Form 4 Filing - HODES ROBERT B @ LORAL SPACE & COMMUNICATIONS INC. - 2005-11-21

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person HODES ROBERT B 2. Issuer Name and Ticker or Trading Symbol LORAL SPACE & COMMUNICATIONS INC. [ LORL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 787 SEVENTH AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 11/21/2005 (Street) NEW YORK, NY10019 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/21/2005 J( 1 ) 2,000 D 0 I IRA Common Stock 11/21/2005 J( 1 ) 200 D 0 I By minor children Common Stock of Loral Space and Comm. Inc. 11/21/2005 J( 2 ) 72 A 72 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Director Stock Option $ 244.375 11/21/2005 J( 1 ) 2,500 02/10/1999( 3 ) 02/10/2008 Common Stock ( 1 ) 2,500 $ 0 0 D Director Stock Option $ 135 11/21/2005 J( 1 ) 630 10/13/1999( 3 ) 10/13/2008 Common Stock ( 1 ) 630 $ 0 0 D Director Stock Option $ 160 11/21/2005 J( 1 ) 4,000 12/16/2000( 3 ) 12/16/2009 Common Stock ( 1 ) 4,000 $ 0 0 D Director Stock Option $ 80 11/21/2005 J( 1 ) 7,130 07/18/2001( 3 ) 07/18/2010 Common Stock ( 1 ) 7,130 $ 0 0 D Director Stock Option $ 34.6875 11/21/2005 J( 1 ) 7,130 01/08/2002( 3 ) 01/08/2011 Common Stock ( 1 ) 7,130 $ 0 0 D Director Stock Option $ 12.8 11/21/2005 J( 1 ) 7,130 10/02/2002( 3 ) 10/02/2011 Common Stock ( 1 ) 7,130 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other HODES ROBERT B 787 SEVENTH AVENUE NEW YORK, NY10019 X Signatures /s/ Robert B. Hodes 11/21/2005 Signature of Reporting Person Date

Explanation of Responses:

( 1 )All such securities were cancelled and extinguished pursuant to the Fourth Amended Joint Plan of Reorganization under Chapter 11 of the United States Bankruptcy Code of Loral Space & Communications Ltd. and its debtor subsidiaries, as modified, which became effective on November 21, 2005, under which no distributions are payable to holders of claims related to such securities. ( 2 )Securities are expected to be issued pursuant to the Fourth Amended Joint Plan of Reorganization under Chapter 11 of the United States Bankruptcy Code of Loral Space & Communications Ltd. and its debtor subsidiaries, as modified, which became effective on November 21, 2005, in respect of claims filed against the debtors. ( 3 )Vests in installments; first exercisable date is shown.

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