LightSquared Creditors to Vote on Reorganization Plans
Bloomberg reported that bankrupt wireless spectrum company LightSquared is receiving bankruptcy court approval for a creditor vote on four competing restructuring plans.
The article said that the plans come from LightSquared, an “ad-hoc group of lenders,” Harbinger Capital Partner and U.S. Bank and Mast Capital Management. The creditors have until December 5 to vote, Bloomberg said citing court papers.
Bloomberg noted that the different plans vary from asset auctions to reorganization without a sale.
To read the entire Bloomberg story click here.
Previously on abfjournal: Lenders Advise Against LightSquared Running Its Own Auction, August 30, 2013