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Lights Out As LightSquared Files For Bankruptcy
forbes.com 2 weeks, 2 days agoPhil Falcone's LightSquared finally filed for bankruptcy protection on May 14, 2012. Falcone is in his own personal mess having been served with a Wells notice by the SEC. But the long past example of NextWave which fought to retain its frequency allotment won in the FCC lottery in 1996 might be a useful precedent in this case. It took 10 years but in the end NextWave sold the frequency on which it had defaulted because it hadn't the money to pay for it for 4 times the prices it originally agreed to pay. It










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