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LightSquared Seeks Ch. 11 As Lenders Tighten $1.7B Noose

By Liz Hoffman (May 14, 2012, 4:58 PM EDT) -- LightSquared Inc., the struggling wireless startup backed by hedge fund billionaire Philip Falcone, filed for bankruptcy protection in New York federal court Monday, just hours before time ran out to renegotiate terms of its $1.7 billion debt....

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