LightSquared Taps Milbank In Big Test For Firm

Law360, Wilmington (May 14, 2012, 12:00 AM EDT) -- As LightSquared Inc. retreats into bankruptcy, the wireless startup has tapped Milbank Tweed Hadley & McCloy LLP to guide it through the Chapter 11 process, presenting the firm its biggest opportunity in recent memory to test its bankruptcy mettle.

Light Squared — with $4.5 billion in assets against $2.3 billion in liabilities — is the largest debtor Milbank Tweed has taken on since Stations Casinos Inc. in 2009, something of a coup for a firm better known for representing creditors and lenders in high profile bankruptcies....
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