By Nick Brown NEW YORK (Reuters) – Charlie Ergen, the largest creditor of bankrupt wireless venture LightSquared, on Friday objected to a framework of the companys restructuring plan that would pay him in the form of a note while giving other lenders cash payouts. In papers filed in U.S. Bankruptcy Court in New York, Ergen, through his investment vehicle SP Special Opportunities, asked Judge Shelley Chapman to rule that the plan is not financially feasible, and to do so before parties devote resources to obtaining creditor support for it. LightSquareds $33 million bankruptcy loan is set to run out around the end of March. Ergen is the chairman of Dish Network Corp, but insists he amassed his roughly $1 billion chunk of LightSquareds senior loan debt on his own behalf.
Ergen balks at treatment under LightSquared’s restructuring plan
22
Feb
2014
Comments are closed.
MONDAY, FEBRUARY 24, 2025
WHITE PAPERS
Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...
ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...
Latest Comments
-
04. 05. 2013 00:51 -
28. 03. 2013 13:30 -
27. 03. 2013 17:21