Harbinger Fights LightSquared Lenders Over $264M Loan

Law360, New York (January 9, 2013, 6:40 PM EST) -- Harbinger Capital Partners LLC on Wednesday hammered an ad hoc group of LightSquared LP lenders looking to sue Harbinger over a $264 million loan made to the bankrupt company, saying the lender group doesn't have standing because it's not a creditor.

Following hours of arguments over whether the group has the authority to bring claims on behalf of the estate of LightSquared Inc., of which LightSquared LP is an operating unit, U.S. Bankruptcy Judge Shelley Chapman postponed ruling on the lenders’ motion seeking authority to prosecute and...
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