LightSquared Inc.

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Case overview

Case Number:

1:12-bk-12080

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. March 10, 2015

    Solus Springs $589M Equity Play In LightSquared Trial

    Solus Alternative Asset Management LP on Tuesday offered LightSquared Inc. $589 million in new cash aimed at soothing creditor complaints about the wireless venture's restructuring strategy and securing an ownership stake in the reorganized LightSquared.

  2. March 09, 2015

    LightSquared Begins Ch. 11 Trial With $400M Surprise

    LightSquared Inc. flashed $400 million in new cash Monday to buy peace on a contested Chapter 11 exit strategy, but lawyers for Dish Network Corp. Chairman Charlie Ergen and other opponents showed no signs of backing off as a trial began on the high-stakes restructuring.

  3. March 06, 2015

    Dish Chair Seeks Late Appeal As LightSquared Trial Looms

    Dish Network Corp. Chairman Charlie Ergen on Friday asked a New York federal court for leave to appeal an order that excluded certain testimony from an impending trial on LightSquared Inc.'s strategy to emerge from bankruptcy protection, saying the last minute ban has left him sidelined.

  4. March 04, 2015

    LightSquared Judge Says No More Delays To Ch. 11 Trial

    LightSquared Inc. is heading toward another contested trial on a strategy to emerge from bankruptcy protection, but lawyers for its fiercest opponent and largest single creditor, Dish Network Corp. Chairman Charlie Ergen, said they would seek yet more delay to appeal an unfavorable ruling.

  5. February 26, 2015

    LightSquared Stockholder Floats Rival Ch. 11 Plan

    LightSquared Inc. creditor and preferred stockholder Solus Alternative Asset Management LP floated a rival Chapter 11 plan Thursday along with $742 million in debtor-in-possession financing to compete with the debtor's reorganization strategy supported by its controlling stakeholder, Phillip Falcone's Harbinger Capital Partners LLC.

  6. February 10, 2015

    LightSquared Unveils New $210M Bankruptcy Financing Deal

    Bankrupt LightSquared Inc. told a New York bankruptcy judge on Tuesday that it has gotten access to a fresh $210 million round of financing to help it through what has so far been a difficult and expensive bankruptcy.

  7. January 20, 2015

    LightSquared Cleared For Voting On Falcone-Backed Plan

    The judge presiding over LightSquared Inc.'s bankruptcy gave stakeholders the go-ahead Tuesday to vote on a restructuring plan but implored its proponents to make peace with Dish Network Corp. chairman Charlie Ergen, the wireless venture's largest creditor and fiercest opponent.

  8. January 20, 2015

    GPS Cos. Seek End To LightSquared, Harbinger Liability Suits

    Global positioning system players Garmin International Inc., Deere and Co. and Trimble Navigation Ltd. told a Manhattan federal judge Tuesday that they bore no contractual obligation to support bankrupt LightSquared Inc.'s ill-fated plan to roll out a broadband wireless network and no duty to disclose their eventual opposition to LightSquared backer Harbinger Capital Partners LLC.

  9. January 02, 2015

    LightSquared Floats $200M Breakup Fee For Plan Proponents

    LightSquared Inc. stakeholders Centerbridge Partners LP, Fortress Credit Opportunities Advisors LLC and SIG Holdings Inc. will receive a $200 million breakup split between them under proposed terms according to a motion filed in a New York bankruptcy court.

  10. December 18, 2014

    Harbinger Backs LightSquared's New Restructuring Plan

    With the blessing of controlling equity holder Harbinger Capital Partners LLC, LightSquared Inc. filed a new restructuring plan in New York bankruptcy court on Thursday that anticipates $1.25 billion in exit financing for the reorganized company and a big stake for Harbinger.

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