By Maria Chutchian (June 26, 2014, 7:07 PM EDT) -- LightSquared Inc.'s bankruptcy has been long, unpredictable and extremely contentious, but the recent departure of the man driving much of the conflict, Philip Falcone, from the company's board suggests that a resolution could be just around the corner.
Falcone — who owns Harbinger Capital Partners LLC, the controlling shareholder of LightSquared — has spent the two-year-long bankruptcy fighting to stay in control of the telecommunications company, which he insists will be worth billions once it receives federal regulatory approval to license certain wireless spectrum.
Falcone has battled with Dish Network Corp. Chairman Charlie Ergen for control of LightSquared for the past...
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