LightSquared, Harbinger Attack Lenders' Proposed Plan

Law360, New York (January 2, 2014, 6:56 PM EST) -- LightSquared Inc. and Harbinger Capital Partners LP on Thursday launched an attack against a Chapter 11 plan proposed by a group of lenders, saying it is merely a tactic for Dish Network Corp. chairman Charlie Ergen to get his hands on the bankrupt telecommunications company’s spectrum assets.

In papers filed in New York bankruptcy court Thursday, Harbinger, which is fighting to keep control of LightSquared, contends that the sale proposed by an ad hoc group of secured lenders for a LightSquared subsidiary is “not a plan...
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