LightSquared Offers Ch. 11 Plan Averting Ergen Debt Brawl

Law360, New York (August 7, 2014, 8:35 PM EDT) -- LightSquared Inc. on Thursday filed a revamped Chapter 11 exit plan that proposes an equity auction for the reorganized company and heralds a possible resolution with Dish Network Corp. Chairman and longtime opponent Charlie Ergen.

The joint plan filed by LightSquared and a group of secured lenders overhauled a tentative deal announced last month in court that seemed to spell the end of the wireless venture's scorched-earth battle with Ergen, its largest prepetition creditor, over the $1 billion in secured debt he holds through his investment...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.