Dish Unit Defends Withdrawal Of $2B LightSquared Bid

Law360, New York (January 17, 2014, 5:14 PM EST) -- The Dish Network Corp. unit that recently withdrew its $2.2 billion bid for certain LightSquared Inc. spectrum assets pushed back Thursday against secured lenders who are claiming that Dish is contractually obligated to move ahead with the bid.

L-Band Acquisition Corp. argued in court papers that the ad hoc group of secured lenders of LightSquared LP, a subsidiary of LightSquared, cannot force it to continue with its bid because when it terminated the offer, it did so in adherence with a plan support agreement.

LBAC said...
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