Dish Pulling Its Bid for LightSquared

[whitewolf8214]

The Daily Docket: Uneven Testimony Given at LightSquared Trial http://bankruptcynews.dowjones.com/...ticle?an=+DJFDBR0020140115ea1fnts82&r=wsjblog

 

[whitewolf8214]

Ergen balks at treatment under LightSquared's restructuring plan http://finance.yahoo.com/news/ergen-balks-treatment-under-lightsquareds-215109165.html

 

[navychop]

Sounds like they're trying to cheat Charlie. Not a wise move.

Sent from my iPhone using SatelliteGuys

 

[mike123abc]

I would love to see Ergen beat this. Essentially you have a company that has gone bankrupt trying to beat out its largest creditor just because they do not like the creditor. Ergen bought the debt fair and square, if they wanted to prevent that they should have out bid him on the debt or not gone bankrupt.

Ergen has the money at least to fight this to the bitter end.

 

[whitewolf8214]

Clock ticks on Ergen, Falcone fight for LightSquared http://finance.yahoo.com/news/clock-ticks-ergen-falcone-fight-161718061.html

 

[mike123abc]

Charlie Ergen is now seeing permission to sue Falcone in Lightsquared case:

http://news.yahoo.com/ergen-seeks-permission-sue-falcon-lightsquared-case-002418690--sector.html

In a court filing on Friday, Ergen asked the judge overseeing LightSquared's Chapter 11 bankruptcy case for permission to bring a lawsuit alleging Falcone mismanaged the company, focusing on preserving his own investment at the expense of other stakeholders.

 

[whitewolf8214]

Ergen still on a boil over LightSquared http://nypost.com/2014/07/01/ergen-still-on-a-boil-over-lightsquared/

 

[whitewolf8214]

Dish settles dispute over LightSquared debt
Jul 14 2014, 16:06 ET
Dish (DISH +0.6%) and LightSquared have settled a legal battle over the treatment of Dish's debt under LightSquared's planned restructuring. Terms are undisclosed for now.
Dish owns ~$1B of LightSquared debt, and at one point bid $2.2B to buy the would-be 4G carrier for its spectrum; the offer was withdrawn in January.
The companies have been battling over how much of Dish's debt gets subordinated during LightSquared's restructuring. LightSquared recently proposed a $3.05B restructuring that would give Dish $470M in cash + a $492M unsecured note for its debt, with the sum recoverable from the note subject to a trial. Charlie Ergen wasn't a fan of the proposal.
The settlement arrives less than a week after Harbinger Capital filed suit against Dish for allegedly using "improper tactics" to attempt to gain control of LightSquared, http://seekingalpha.com/news/1842455-dish-settles-dispute-over-lightsquared-debt

 

[whitewolf8214]

Falcone files new $1.5B LightSquared suit against Dish Network, Ergen
Jul 21 2015, 18:38 ET | By: Jason Aycock, SA News Editor
http://seekingalpha.com/news/264382...ed-suit-against-dish-network-ergen#email_link
Philip Falcone's Harbinger Capital Partners has filed a new $1.5B lawsuit against Dish Network (NASDAQISH) and Chairman Charles Ergen, extending the long-running legal skirmish over wireless company LightSquared.
The $1.5B are nominal damages that Harbinger wants to see trebled, charging civil RICO violations.
Harbinger has charged Ergen and Dish with fraudulently scheming to take its LightSquared equity by stockpiling debt in the wireless firm. LightSquared got court permission to emerge from bankruptcy March 26, which was to result in a heavily reduced equity stake for Harbinger and a $1.5B cash repayment for Ergen.
A nearly identical lawsuit was dismissed in April by a judge who said the claim didn't belong there. That judge didn't rule on the merits and said Harbinger could pursue the claim elsewhere.
Previously: Dish wins a battle in shareholder suit over LightSquared (Jul. 17 2015)
Previously: Judge dismisses Falcone's $1.5B suit against Dish Network, Ergen (Apr. 28 2015)