LightSquared Seeks Ch. 11 As Lenders Tighten $1.7B Noose
LightSquared, which faces a congressional probe and investor lawsuit after its plans to build a nationwide 4G network ran afoul of telecom regulators, listed $4.48 billion in assets and $2.29 billion in liabilities in its Chapter 11 petition.
The voluntary filing gives LightSquared "sufficient breathing room to continue working...
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