Tags: falcone | lightsquared

Falcone Mulls Voluntary Bankruptcy for LightSquared

Wednesday, 04 Apr 2012 05:08 PM

Hedge fund manager Philip Falcone said in an interview on Wednesday he is "seriously considering" filing a voluntary bankruptcy for LightSquared, the struggling telecom startup in which his Harbinger Capital Partners is the majority owner.

Falcone said a bankruptcy is one option he is considering as he tries to find a way to salvage the company and keep its creditors at bay.

He said a bankruptcy would allow the company time to find a way to deal with communications interference issues that have arisen with the planned buildout of a nationwide wireless broadband network.

Falcone said a bankruptcy would not necessarily wipe out the equity holders of LightSquared because the spectrum it owns retains value.

© 2017 Thomson/Reuters. All rights reserved.

   
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2012-08-04
Wednesday, 04 Apr 2012 05:08 PM
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