LightSquared Offers Ch. 11 Plan Averting Ergen Debt Brawl

Law360, New York (August 07, 2014, 8:35 PM ET) -- LightSquared Inc. on Thursday filed a revamped Chapter 11 exit plan that proposes an equity auction for the reorganized company and heralds a possible resolution with Dish Network Corp. Chairman and longtime opponent Charlie Ergen.

The joint plan filed by LightSquared and a group of secured lenders overhauled a tentative deal announced last month in court that seemed to spell the end of the wireless venture's scorched-earth battle with Ergen, its largest prepetition creditor, over the $1 billion in secured debt he holds through his investment...
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