Bankrupt LightSquared Gets Incentive Plan OK

Law360, New York (October 23, 2012, 3:31 PM EDT) -- A New York bankruptcy judge on Tuesday approved a key employee incentive plan for four insiders at wireless Internet service company LightSquared Inc. after the debtor managed to reach an agreement with a group of lenders and the U.S. trustee, resolving their objections.

U.S. Bankruptcy Judge Shelley C. Chapman approved the KEIP during a hearing, at which an attorney for the debtors explained the progress the parties had made on reaching a consensual resolution of their differences since the original KEIP proposal was floated nearly two...
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