2nd Circ. Paves Way For K&L To Fight Teligent Deal

Law360, New York (May 5, 2011, 3:37 PM EDT) -- The Second Circuit on Thursday cleared K&L Gates LLP to challenge the validity of a $6 million settlement struck between the unsecured claim representative for bankrupt Teligent Inc. and the telecom's former chief executive.

Savage & Associates PC, the unsecured claims representative, had hoped to block K&L Gates from seeking to dismantle the deal it reached with former Teligent CEO Alex Mandl, which resolved a dispute over a $12 million loan he received pursuant to his employment contract.

Under terms of the deal, which was approved...
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