LightSquared Judge OKs Pursuit Of Jefferies Exit Loan

Law360, New York (June 6, 2013, 4:06 PM ET) -- A New York bankruptcy judge on Thursday signed off on LightSquared Inc.’s bid to work with Jefferies LLC to obtain an exit financing loan and the associated fees that will be paid by the company’s largest equity holder, Philip Falcone’s hedge fund Harbinger Capital Partners LLC.

U.S. Bankruptcy Judge Shelley C. Chapman also allowed LightSquared to keep the amount of the financing under seal, a measure the company’s lawyers said was necessary due to “highly sensitive, confidential information” that Jefferies does not want disclosed to competing...
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