Probe Of Prebankruptcy LightSquared Loan Extended

Law360, New York (August 14, 2012, 6:24 PM EDT) -- The New York bankruptcy judge overseeing LightSquared Inc.'s bankruptcy extended to Sept. 28 a crucial deadline underlying a discovery dispute between Philip Falcone's hedge fund and a group of LightSquared LP lenders over allegations of prepetition insider lending.

The dispute features the ad hoc secured group of LP lenders seeking information on the so-called Inc. loan, a $280 million prepetition loan that lenders including UBS AG extended to the LightSquared Inc. parent before its bankruptcy. The lenders to the LP unit now seek to investigate allegations...
To view the full article, register now.



Case Information

Case Title

LightSquared Inc.

Case Number



New York Southern

Nature of Suit

Date Filed

May 14, 2012

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.