LightSquared Chapter 11 plan confirmation hearing to begin on Oct. 20

By Caroline Salls

Pittsburgh, Aug. 15 – LightSquared Inc.’s plan of reorganization confirmation hearing is now scheduled to begin on Oct. 20, according to a schedule filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The hearing is scheduled to be held on Oct. 20 through Oct. 23 and Oct. 27 through Oct. 31.

Plan vote solicitation is set to begin on Aug. 28.

On Monday, Harbinger Capital Partners, LLC filed a plan for the LightSquared Inc. debtors after it and lender parties U.S. Bank NA and MAST Capital Management, LLC said the joint plan filed by LightSquared on Aug. 7 should be modified so that it only applies to LightSquared LP debtors, and not to the LightSquared Inc. debtors.

Friday’s schedule set Aug. 15 as the deadline for filing an LP debtor-specific plan. No such plan had been filed as of Friday evening.

LightSquared is a Reston, Va.-based wholesale-only 4G-LTE network integrated with satellite coverage. The company filed for bankruptcy on May 14, 2012 under Chapter 11 case number 12-12080.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.