LightSquared and Harbinger win court approval to solicit plan votes

By Caroline Salls

Pittsburgh, Aug. 20 – LightSquared Inc. and Harbinger Capital Partners LLC received court approval to solicit votes on the disclosure statements for the new plans of reorganization they filed for the company’s Chapter 11 case, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, a joint plan was filed on Aug. 7 at the request and direction of the special committee of the boards of directors for LightSquared Inc. and LightSquared GP Inc. as well as an informal group of pre-bankruptcy LightSquared LP debtor lenders.

Harbinger filed a plan just for the LightSquared Inc. debtors on Aug. 11 and filed the related disclosure statement on Aug. 12.

A plan confirmation hearing is scheduled for Oct. 20. The court will also consider final approval of the disclosure statements at that hearing.

The voting deadline is 7 p.m. ET on Sept. 23.

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.