Ergen Venture Offers 'Superior' Loan To LightSquared

Law360, Wilmington (January 24, 2014, 9:26 PM EST) -- Dish Network Corp. Chairman Charlie Ergen's investment vehicle, which purchased a large chunk of LightSquared Inc.’s debt, objected late Thursday to the company’s request for a $33 million bankruptcy loan from a group of hedge funds, arguing that its competing proposal is “unquestionably superior.”

In a motion before the bankruptcy court in the Southern District of New York, SP Special Opportunities LLC contends that the debtor-in-possession financing its offering has a better interest rate and no prepayment penalties and is not linked to any of the...
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