LightSquared Tries To Ax Regulatory Hurdle For Exec Bonuses

Law360, New York (March 12, 2014, 5:49 PM EDT) -- LightSquared Inc. on Tuesday asked a New York bankruptcy court to throw out a certain regulatory requirement that must be met in order for four of its top executives to receive bonuses upon the telecommunications company’s emergence from bankruptcy.

Lawyers for the company, owned by Philip Falcone’s Harbinger Capital Partners LLC, said in a court filing that because the reorganization plan that was currently being considered did not require federal regulatory approval that was necessary for the previous version of the plan, LightSquared should not have...
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