Reorganizations

LightSquared Initiates Voluntary Chapter 11 Restructuring - TMCnet

05/17/12

May 16, 2012 (Close-Up Media via COMTEX) -- LightSquared announced that it commenced voluntarily reorganization cases under Chapter 11 of the U.S. Bankruptcy Code to give it time to resolve regulatory issues that have prevented it from building ...

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Attorneys' Group Concerned Chapter 11 Can't Handle Modern Debts - 24-7PressRelease.com

05/17/12

Bankruptcy lawyers are pushing for reforms to Chapter 11 bankruptcy. May 17, 2012 /24-7PressRelease/-- Chapter 11 bankruptcy is designed to offer relief to business corporations and partnerships that have become overwhelmed by debt. In some cases, Chapter ...

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Pinnacle Bankruptcy Bargaining Deadlines Extended, USW Advises Court of Problems with Pinnacle's DIP Financing - YAHOO!

05/16/12

Landry pointed out that since Pinnacle filed its Chapter 11 bankruptcy case, USW officers, staff, financial experts and legal counsel have been actively involved in the proceedings. As a member of the Creditors' Committee, the USW provides the ...

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LightSquared Files for Voluntary Chapter 11 - TMCnet

05/16/12

May 16, 2012 (Close-Up Media via COMTEX) -- LightSquared announced that it commenced voluntarily reorganization cases under Chapter 11 of the U.S. Bankruptcy Code to give it time to resolve regulatory issues that have prevented it from building ...

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LightSquared Files for Chapter 11 Bankruptcy in Bid to Buy Time - eWeek

05/15/12

One of LightSquared’s options is to convince the FCC to sell its current spectrum holdings–the bands next to GPS–and give it the frequencies it wants that are too far from GPS to interfere. Why would the FCC do this? There are two reasons. First, the ...

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LightSquared Files for Chapter 11 - Big Hollywood

05/15/12

In February of 2005, Barack Obama invested more than $50,000 in a company called SkyTerra, later known as the wireless networking company LightSquared. According to the New York Times, Skyterra’s principal backers included four of Obama's ...

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Former subprime lender ResCap files for Chapter 11 - Philadelphia Daily News

05/15/12

Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection Monday in New York. The move, which analysts had been expecting for months, is a reminder of the ...

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LightSquared files for Chapter 11 bankruptcy - Denver Post

05/15/12

NEW YORK — LightSquared Inc. on Monday filed for bankruptcy, saying it will seek to resolve the concerns of U.S. regulators who thwarted the company's plan to deliver high-speed wireless to as many as 260 million people. LightSquared, based in ...

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In Chapter 11, Phil bets it all - New York Post

05/15/12

Hedge fund honcho Phil Falcone — known for high-stakes bets — took one of his biggest gambles yesterday when he put troubled wireless startup LightSquared into bankruptcy. After weeks of failed negotiations between Falcone and LightSquared’s ...

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Ally's mortgage unit files for Chapter 11 - Toledo Blade

05/14/12

NEW YORK — Residential Capital LLC, the mortgage-loan division of Ally Financial Inc., filed for Chapter 11 bankruptcy protection in New York Monday. The firm said it is unable to make payments on debt taken out to finance soured home mortgages.

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