June 06, 2013
A New York bankruptcy judge on Thursday signed off on LightSquared Inc.'s bid to work with Jefferies LLC to obtain an exit financing loan and the associated fees that will be paid by the company's largest equity holder, Philip Falcone's hedge fund Harbinger Capital Partners LLC.
May 31, 2013
LightSquared Inc. on Friday said it reached a deal with Jefferies LLC to finance its exit from bankruptcy but is asking a court to keep the terms of the agreement under wraps in an effort to keep the information out of the hands of competing financial institutions.
February 13, 2013
LightSquared Inc. has reached an agreement with lenders to extend its exclusive right to file a Chapter 11 plan until July, a deal that could give it breathing room in ongoing talks with federal regulators over a make-or-break plan to launch a terrestrial 4G network, it said Wednesday.
January 09, 2013
Harbinger Capital Partners LLC on Wednesday hammered an ad hoc group of LightSquared LP lenders looking to sue Harbinger over a $264 million loan made to the bankrupt company, saying the lender group doesn't have standing because it's not a creditor.
October 23, 2012
A New York bankruptcy judge on Tuesday approved a key employee incentive plan for four insiders at wireless Internet service company LightSquared Inc. after the debtor managed to reach an agreement with a group of lenders and the U.S. trustee, resolving their objections.
October 01, 2012
A New York bankruptcy judge on Monday extended LightSquared Inc.'s exclusive right to file a Chapter 11 plan until the end of January after the debtor said it anticipates a possible breakthrough on the make-or-break issue of its hoped-for 4G spectrum.
September 18, 2012
A group of LightSquared LP lenders sought authority Saturday to prosecute claims on behalf of LightSquared Inc.'s estate against parties to a $264 million loan, saying the debtors are "completely conflicted" and won't pursue claims against controlling insider Harbinger Capital Partners LLC.
September 06, 2012
A group of LightSquared LP's lenders objected Thursday to parent LightSquared Inc. and its affiliates' bid to implement a $6 million employee incentive plan, saying controlling equity owners Philip Falcone and his Harbinger Capital Partners LLC are improperly promoting the interests of equity.
August 14, 2012
The New York bankruptcy judge overseeing LightSquared Inc.'s bankruptcy extended to Sept. 28 a crucial deadline underlying a discovery dispute between Philip Falcone's hedge fund and a group of LightSquared LP lenders over allegations of prepetition insider lending.