Bankrupt LightSquared Gains Access To $190M From Lenders

Law360, New York (June 13, 2012, 5:57 PM EDT) -- LightSquared LP told a New York bankruptcy judge Wednesday that it had reached an agreement with a group of secured lenders allowing it to access $190 million in previously restricted cash that it needs to keep operating, according to a source familiar with the matter.

The lenders — distressed debt hedge funds Fortress Investment Group LLC, Knighthead Capital Management LLC, Redwood Capital Management LLC and Appaloosa Management LP, and investment firm Capital Research and Management Co. — have agreed to allow wireless startup LightSquared access to...
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