Dish Network (NASDAQ: DISH) chairman Charlie Ergen appears to have settled a long-simmering dispute with hedge fund operator Phil Falcone over the bankrupt wireless networking company LightSquared.
According to papers filed Monday in the U.S. Bankruptcy Court in Manhattan and obtained by Reuters, the two sides made a deal after extending a previously completed mediation session.
Details of the agreement had yet to be announced pending an afternoon hearing in the Manhattan court.
Owned by Falcone's Harbinger Capital Partners, LightSquared went bankrupt in 2012, after the Federal Communications Commissions, fearing interference with GPS devices, revoked its license to operate its spectrum.
Ergen subsequently acquired about $1 billion of LightSquared's senior loan debt, but Harbinger accused him of attempting to surreptitiously take over the company. Ergen and Falcone have since bickered over ownership of the company.
- read this Reuters story
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