Daily News: March 30, 2015

LightSquared Bankruptcy Exit Plan Earns Court Approval

Reuters reported LightSquared on Thursday concluded three years of litigation with creditors, securing U.S. Bankruptcy Court approval of a plan to end its Chapter 11 case and repay in full its largest creditor, Dish Network Chairman Charles Ergen.

According to Reuters , the ruling ends one of the longest and most litigious bankruptcies in recent years, and will yield a hefty profit for Ergen, who other stakeholders portrayed as the villain for his unwillingness to take a haircut on his debt.

To read the entire Reuters article, click here.