Lenders Ask Judge To Hold LightSquared To Deal Terms

Law360, New York (June 19, 2013, 7:13 PM EDT) -- LightSquared Inc. lenders on Tuesday urged a New York bankruptcy judge to force the company to comply with a recent settlement and said the company hasn’t met with a company owned by Dish Network Corp. Chairman Charlie Ergen that has offered $2 billion for certain assets.

The ad hoc group of lenders, who hold about $1.4 billion of LightSquared’s debt, requested that the judge schedule an emergency hearing to force the wireless spectrum owner to adhere to the terms of the settlement, which gave it more...
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