[Boatanchors] [Fwd: [time-nuts] LightSquared]

[J. Forster]

---------------------------- Original Message ----------------------------
Subject: [time-nuts] LightSquared
From:    "Erno Peres" <ernieperes at aol.com>
Date:    Tue, October 16, 2012 5:26 am
To:      time-nuts at febo.com
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The  Saga just goes on...!!!!!  INFO only.

Rgds Ernie.



Lightsquared Returns With New Proposal For GPS Fix
October 4, 2012


The company asked the FCC to modify its license application so it can use
its 5MHz of spectrum that haven’t caused GPS concerns.
LightSquared, the now bankrupt wireless broadband venture, is seeking
regulatory approval from the FCC for a plan it believes will fix
interference problems with GPS technology.
In two filings, LightSquared, once a darling of the FCC for its bold
broadband initiative, told the commission it will now forgo using the
airwaves that triggered the GPS interference problems in the first place.
The Wall Street Journal reported that the filings come at a critical time
in LightSquared’s Chapter 11 case, which was filed in May. The company
is in court this week, seeking permission from the judge to extend the
exclusive right to file a reorganization plan until this summer, reducing
the threat of rival proposals.
LightSquared asked the FCC to modify its license application so it can use
its 5MHz of spectrum that haven’t caused GPS concerns. It also sought
another 5MHz that it would share with users within the federal government.
In its latest proposal, the company said it would forego using the
“upper” 10MHz that have caused GPS interference concerns. It still
wants the FCC to consider use of that 10MHz, but agreed to wait for and
cooperate with “operating parameters and revised rules for terrestrial
use of this spectrum.”
There is no timetable for a response from the FCC on LightSquared’s
request.
Creditors in the bankruptcy case have been critical of LightSquared and
the man who controls its equity, hedge fund manager Phillip Falcone. Those
lenders have said a loan made prior to the bankruptcy filing to
LightSquared favored Falcone and his firm, Harbinger Capital Partners,
over other creditors.
LightSquared received conditional FCC approval in 2011 to deploy its
low-cost broadband network. But earlier this year, the FCC denied approval
after the National Telecommunications and Information Administration
(NTIA) found the network could interfere with GPS.
Falcone and his company have spent hundreds of millions of dollars on
LightSquared. Both are being sued by securities regulators for a variety
of alleged violations, including misappropriation of client money,
manipulating bond prices and favoritism of certain clients. Falcone has
said he is innocent and will fight the charges, the Journal reported.
SOURCE: LightSquared
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