LightSquared In Talks For New Bankruptcy Exit Plan

Law360, New York (January 31, 2014, 3:09 PM EST) -- LightSquared Inc.’s tumultuous and unpredictable bankruptcy looks poised to take another turn as attorneys announced during a court appearance Friday that there may be yet another exit plan for the telecommunications company in the works.

Matthew Barr of Milbank Tweed Hadley & McCloy LLP, representing LightSquared, told U.S. Bankruptcy Judge Shelley C. Chapman that the debtors are in talks with hedge funds sponsoring its currently proposed plan and an ad hoc group of secured lenders about an alternative plan. Though nothing has been set in stone...
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