Falcone works to block Ergen from LightSquared
from Fierce Wireless
LightSquared financier Philip Falcone is preparing to submit a reorganization plan to a bankruptcy judge that would specifically block Dish Network's Charlie Ergen from receiving compensation, according to a report from the New York Post that cited unnamed sources. Ergen reportedly has collected more than half of LightSquared's $1.7 billion in secured loans through hedge fund firm Sound Point Capital Management with an eye toward acquiring the company.
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