LightSquared FCC Filing Buys It More Time To File Ch. 11 Plan

Law360, New York (October 1, 2012, 5:36 PM EDT) -- A New York bankruptcy judge on Monday extended LightSquared Inc.'s exclusive right to file a Chapter 11 plan until the end of January after the debtor said it anticipates a possible breakthrough on the make-or-break issue of its hoped-for 4G spectrum.

U.S. Bankruptcy Judge Shelley C. Chapman approved LightSquared's proposed exclusivity period extension for 141 days after its Sept. 11 expiration, giving it a new deadline of Jan. 31 to file a plan before other parties can begin floating their own. The debtor will have until...
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