Bankruptcy “is intended to give LightSquared sufficient breathing room to continue working through the regulatory process that will allow us to build our 4G wireless network,” Chief Financial Officer Marc Montagner said in a statement. [Bloomberg]
breathing room
The firm is up to $7.2 billion in assets (from $6.7 billion last month) and needs to get comfortable with that before it can think about taking on any “new relationships.” [AR]
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