And that business is making interest payments on its mountain of debt, as creditors, would-be creditors, Phil Falcone and a federal bankruptcy-court judge fiddle.
LightSquared lost $51.4 million in July, bringing Philip Falcone’s wireless venture’s total loss since its May 2012 bankruptcy filing to $1.51 billion….
The company again attributed the bulk of the losses to interest payments on its debt. The interest accounted for $39.4 million during July, and $903.8 million since the company’s Chapter 11 filing.
LightSquared losses since bankruptcy filing hit $1.51 billion [Dow Jones via Denver Post]