Chapter 9

Phil Falcone and LightSquared urged a bankruptcy judge to reject a plan to sell the company’s wireless spectrum assets to Charlie Ergen’s Dish Network Corp., a deal they say is inferior to LightSquared’s proposal to reorganize on its own. Read the Daily Bankruptcy Review article via The Wall Street Journal.

According to The Wall Street Journal, Fiat SpA is set to get full control of Chrysler Group LLC in a deal worth $4.35 billion.

LightSquared Inc.’s recently overhauled restructuring plan, which faces objections from certain creditors, is currently the best option on the table, say the wireless venture’s independent directors. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A recent bankruptcy-court decision in favor of Michigan’s state housing authority’s decision to terminate a swaps deal with Lehman Brothers Holdings Inc.

Fortress Investment Group LLC is talking to banks about acquiring LightSquared Inc. from bankruptcy, The Wall Street Journal reports.