LightSquared preps for tough trial on latest bankruptcy plan

March 6, 2015 admin apple, centerbridge, china-mobile, commission, cutting, federal, gained-momentum, leila-abboud, light, partners-light, repay-lenders

By Nick Brown NEW YORK (Reuters) – LightSquared gained momentum this week in its effort to end its three-year bankruptcy after a judge dealt a blow to its main creditor and adversary, Charles Ergen, ahead of a week-long trial on its latest debt restructuring plan. LightSquared, the would-be wireless provider owned by Phil Falcone’s Harbinger Capital Partners hedge fund, on Monday will begin seeking U.S. Bankruptcy Court approval for a plan to exit Chapter 11, repay lenders and transfer some equity to Fortress Investment Group and Centerbridge Partners.

Originally posted here:
LightSquared preps for tough trial on latest bankruptcy plan