Lightsquared Stalking Horse Seeks To Withdraw Bid, Says Contract Is Not Binding

Lightsquared Stalking Horse Seeks To Withdraw Bid, Says Contract Is Not Binding

NEW YORK - A potential stalking horse bidder in the Chapter 11 bankruptcy of Lightsquared Inc. on Jan. 21 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to the Ad Hoc Secured Group of Lightsquared LP Lenders' (Ad Hoc Group) contention that the bidder was prevented from canceling its bid (In re: Lightsquared Inc., No. 12-12080, Chapter 11, S.D. N.Y. Bkcy.).

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