Open Range Trustee Targets Feds Over $267M Stimulus Loan

Law360, Wilmington (August 16, 2012, 6:09 PM EDT) -- The Chapter 7 trustee for Open Range Communications Inc. is suing several federal agencies, claiming the government toppled the rural broadband company into bankruptcy when it cut off funding for a $267 million loan, according to a complaint unsealed Thursday.

The suit, filed in Delaware bankruptcy court, alleges that the U.S. Department of Agriculture and its Rural Utilities Service breached the 2009 loan agreement — the largest the agencies had committed to under a stimulus program to expand rural broadband access.

Trustee Charles M. Forman said...
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