LightSquared misses deadline, awaits creditors' offers

07/23/2013 | 4-Traders.com

LightSquared, having missed a critical deadline for restructuring, expects a number of competing reorganization plans to emerge, possibly from creditors who want to buy some of its assets. In a filing Friday with a U.S. Bankruptcy Court, LightSquared issued a September deadline for groups to propose reorganization plans, with an eye on the court approving a winner by December.

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