June 27 LightSquared has reached a mediated deal
to bring the wireless communications company out of its Chapter
11 bankruptcy, according to report from the mediator who lashed
out at Charles Ergen, a large creditor and satellite TV mogul.
"All of the parties to the mediation have agreed on the key
business terms of a chapter 11 plan for the debtors that should
be confirmable without the support of the one party, SPSO,"
wrote mediator Robert Drain in a court filing. SPSO is the
investment vehicle of Ergen, who is chairman of Dish Network
"SPSO/Charles Ergen have not participated in the mediation
in good faith and have wasted the parties and the mediator's
time and resources," wrote Drain, who is also a U.S. Bankruptcy
Court Judge in New York.
(Reporting by Tom Hals in Wilmington, Delaware; Editing by