LightSquared Teases New Bankruptcy Plan By Friday

Law360, New York (February 11, 2014, 4:15 PM EST) -- LightSquared Inc. attorneys said Tuesday that by the end of the week they hope to file a new plan to exit bankruptcy that could satisfy secured lenders, but were met with skepticism by the judge overseeing the case.

Lawyers for the telecommunications company and a special committee overseeing its operations have hinted recently at a plan that could provide it a path out of bankruptcy, with the support of all of its key constituencies. As the judge noted at a court hearing Tuesday, time is running short,...
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