LightSquared Punts On Ergen's Ch. 11 Protection Demand
Law360, New York (April 7, 2015, 4:36 PM EDT) -- Lawyers representing Dish Network Corp. Chairman Charlie Ergen reached an agreement with LightSquared Inc. on Tuesday to postpone his demand for $6.3 million in monthly payments as protection against a downturn in the wireless venture's prospects.
What began as a contested hearing on LightSquared's continued use of the cash securing Ergen's loans ended with a compromise that deferred the dispute until a December 15 deadline for the debtor to execute a court-approved restructuring plan.
Ergen's attorneys at Willkie Farr & Gallagher LLP had requested that LightSquared continue its current arrangement to pay him and other secured creditors for the right to...
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