The Traderszone Network

Published in TZ Latest News 26 March, 2015 by The TZ Newswire Staff

LightSquared bankruptcy exit plan earns court approval

Wireless venture LightSquared on Thursday concluded three years of litigation with creditors, securing U.S. Bankruptcy Court approval of a plan to end its Chapter 11 case and repay in full its largest creditor, Dish Network Corp (DISH.O) Chairman Charles Ergen. LightSquared’s case has been closely watched because its main asset, wireless spectrum, is considered very valuable. Under the plan greenlighted by Judge Shelley Chapman in U.S. Bankruptcy Court in New York, LightSquared will exit Chapter 11 under the control of Centerbridge Partners and Fortress Investment Group (FIG.N).

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