Falcone Comments on Rationale for Recommending to Board Voluntary Chapter 11 as One of Several Options for LightSquared
05 Apr, 2012, 12:11 ET
NEW YORK, April 5, 2012 /PRNewswire/ -- Yesterday Phil Falcone said that one of several options he was seriously considering recommending to the LightSquared Board is a voluntary Chapter 11 filing for LightSquared.
Today, he added to that statement: "While no decision has yet been made, the rationale behind a voluntary filing would be to give us the necessary time to continue with our vision, build the network and protect the company from creditors who are more interested in a quick flip."
SOURCE LightSquared Inc.
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