LightSquared Strikes Ch. 11 Deal, Keeps 4G Hopes Alive

Law360, New York (February 13, 2013, 8:12 PM EST) -- LightSquared Inc. has reached an agreement with lenders to extend its exclusive right to file a Chapter 11 plan until July, a deal that could give it breathing room in ongoing talks with federal regulators over a make-or-break plan to launch a terrestrial 4G network, it said Wednesday.

The deal, which must receive court approval, would extend for six months LightSquared's right to file its own plan before other parties can begin floating their own. At a hearing in Manhattan, U.S. Bankruptcy Judge Shelley C. Chapman...
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