Stricken open-access Long Term Evolution (LTE) start-up LightSquared has announced that it has commenced voluntarily reorganisation cases under Chapter 11 of the US Bankruptcy Code to give it time to resolve regulatory issues that have prevented it from building its coast-to-coast integrated satellite 4G wireless network. The company will also file a recognition proceeding in Canada, which relates to cross-border insolvency cases. The company fully expects to continue normal operations throughout this process.
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OVETEL Lightsquared files for Chapter 11 bankruptcy
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