LightSquared is operating its businesses and managing its properties as...
LightSquared is operating its businesses and managing its properties as debtors in possession, the wholesale satellite capacity company said in an ex parte filing in docket 11-109 (http://xrl.us/bniaup). It is still funding its operations and necessary capital expenditures with “unencumbered…
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cash on hand ... cash collateral of certain of its prepetition secured lenders ... and the proceeds of a debtor in possession financing in an amount up to $51.5 million,” it said. The company still intends to deploy a 4G wireless broadband network, a project that stalled when it was suggested that operations could impact GPS (CD Feb 15 p1).