LightSquared Cuts Deal On $337.5M Inmarsat Payment Plan

Law360, New York (April 20, 2012, 6:45 PM EDT) -- Wireless network startup LightSquared Inc., which has found itself in the middle of federal probes and lawsuits, caught a break Friday when British communications company Inmarsat PLC agreed to let the private equity-backed company suspend its payments on a $337.5 million agreement until 2014.

After receiving the an overdue payment of $56.25 million from the wireless company, Inmarsat restructured the rest of the payment schedule in a cooperation agreement to give the Virginia-based company a chance to once again secure federal regulatory permissions for its proposed...
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