March 10, 2015
Solus Alternative Asset Management LP on Tuesday offered LightSquared Inc. $589 million in new cash aimed at soothing creditor complaints about the wireless venture's restructuring strategy and securing an ownership stake in the reorganized LightSquared.
March 09, 2015
LightSquared Inc. flashed $400 million in new cash Monday to buy peace on a contested Chapter 11 exit strategy, but lawyers for Dish Network Corp. Chairman Charlie Ergen and other opponents showed no signs of backing off as a trial began on the high-stakes restructuring.
March 06, 2015
Dish Network Corp. Chairman Charlie Ergen on Friday asked a New York federal court for leave to appeal an order that excluded certain testimony from an impending trial on LightSquared Inc.'s strategy to emerge from bankruptcy protection, saying the last minute ban has left him sidelined.
March 04, 2015
LightSquared Inc. is heading toward another contested trial on a strategy to emerge from bankruptcy protection, but lawyers for its fiercest opponent and largest single creditor, Dish Network Corp. Chairman Charlie Ergen, said they would seek yet more delay to appeal an unfavorable ruling.
February 26, 2015
LightSquared Inc. creditor and preferred stockholder Solus Alternative Asset Management LP floated a rival Chapter 11 plan Thursday along with $742 million in debtor-in-possession financing to compete with the debtor's reorganization strategy supported by its controlling stakeholder, Phillip Falcone's Harbinger Capital Partners LLC.
February 10, 2015
Bankrupt LightSquared Inc. told a New York bankruptcy judge on Tuesday that it has gotten access to a fresh $210 million round of financing to help it through what has so far been a difficult and expensive bankruptcy.
January 20, 2015
The judge presiding over LightSquared Inc.'s bankruptcy gave stakeholders the go-ahead Tuesday to vote on a restructuring plan but implored its proponents to make peace with Dish Network Corp. chairman Charlie Ergen, the wireless venture's largest creditor and fiercest opponent.
January 20, 2015
Global positioning system players Garmin International Inc., Deere and Co. and Trimble Navigation Ltd. told a Manhattan federal judge Tuesday that they bore no contractual obligation to support bankrupt LightSquared Inc.'s ill-fated plan to roll out a broadband wireless network and no duty to disclose their eventual opposition to LightSquared backer Harbinger Capital Partners LLC.
January 02, 2015
LightSquared Inc. stakeholders Centerbridge Partners LP, Fortress Credit Opportunities Advisors LLC and SIG Holdings Inc. will receive a $200 million breakup split between them under proposed terms according to a motion filed in a New York bankruptcy court.
December 18, 2014
With the blessing of controlling equity holder Harbinger Capital Partners LLC, LightSquared Inc. filed a new restructuring plan in New York bankruptcy court on Thursday that anticipates $1.25 billion in exit financing for the reorganized company and a big stake for Harbinger.