Lenders: LightSquared plan for auction could block DISH bid

09/18/2013 | Bloomberg Businessweek

LightSquared's lenders are up in arms over the bankrupt company's proposal for a format to sell off its prized cache of wireless spectrum, saying the move could block DISH Network's offer to buy the assets for $2.22 billion. The creditors object to LightSquared's plan to let Harbinger Capital Partners -- the hedge fund that runs the company -- sit on a committee that would decide its fate. They want an independent panel to decide how to distribute the assets, arguing that Harbinger does not want to auction them off.

View Full Article in:

Bloomberg Businessweek

Published in Brief: