LightSquared Pick To Run Auction Is Conflicted, Lenders Say

Law360, New York (September 23, 2013, 6:23 PM EDT) -- Secured lenders of LightSquared Inc. on Monday objected to the bankrupt wireless startup’s selection of an independent director to run an auction of some of its assets, saying she’s conflicted because of a history with Dish Network Corp., whose chairman owns a prospective buyer.

The lenders contend in a Monday court filing that independent director Donna Alderman was fired from Dish in 2012 and battled Dish in a separate case that has been cited by LightSquared repeatedly in its efforts to keep an entity owned by...
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