Lightsquared Creditor: Sale Or Restructuring Of Company Should Be Ordered

Lightsquared Creditor: Sale Or Restructuring Of Company Should Be Ordered

NEW YORK - Creditor SP Special Opportunities LLC (SPSO) filed a brief on July 23 in the Chapter 11 bankruptcy of Lightsquared Inc. in which it joined the Ad Hoc Group of Lightsquared Lenders in objecting to the debtor's motion seeking to extend the exclusivity period related to filing a Chapter 11 plan of reorganization. SPSO contends that the bankruptcy court should order an expeditious sale or restructuring of the company (In Re: Lightsquared Inc., No. 12-12080, Chapter 11, S.D. N.Y. Bkcy.).

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