WSJ: LightSquared to Work with Dish on Restructuring
The Wall Street Journal reported LightSquared’s lawyers said they’ll work with holders of the company’s bank debt, including Charles Ergen, chairman of Dish Network, on a restructuring plan.
The Journal said further a lawyer for Ergen, Willkie Farr & Gallagher LLP’s Rachel S. Strickland, said that while she’s “very concerned” about the “continuing pattern” of being left out of discussions and notified of developments at the last second, she would agree to allow LightSquared to use the cash secured by the loans through early next week.
To read the entire WSJ article, click here.
Previously on abfjournal: LightSquared Gets Court OK to Go Forward With Exit Plan, January 3, 2014