Falcone Says He Wasn't Sure Ergen Bought LightSquared Debt

Law360, New York (January 16, 2014, 6:22 PM EST) -- Hedge fund billionaire Philip Falcone said during a court appearance Thursday that he never knew for sure that Dish Network Corp. chairman Charlie Ergen was behind large purchases of LightSquared Inc. debt that allowed Ergen to obtain a powerful position in LightSquared’s bankruptcy.

Falcone was questioned during a trial in which LightSquared and its majority shareholder, Falcone’s Harbinger Capital Partners LLC, have accused Ergen of secretly finagling his way around a credit agreement barring competitors from purchasing the debt so that he could obtain a controlling...
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