LightSquared Judge Says Dish Properly Dropped $2.2B Bid

Law360, New York (January 22, 2014, 3:48 PM EST) -- A New York bankruptcy judge said Wednesday that a Dish Network Corp. unit properly withdrew its $2.2 billion offer to buy LightSquared Inc. spectrum assets despite arguments from secured lenders that the bid was irrevocable.

U.S. Bankruptcy Judge Shelley C. Chapman gave her “tentative view” Wednesday in a hearing that frequently devolved into confusion and frustration among attorneys for the Dish unit, the ad hoc group of secured lenders to a LightSquared subsidiary, LightSquared and LightSquared’s special committee. The judge spent much of the hearing attempting...
To view the full article, register now.

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.