FCC sent letter to Motient Communications Fri., saying that compa...
FCC sent letter to Motient Communications Fri., saying that company’s final bid withdrawal obligations to Commission totaled $1 million. Wireless data provider filed for Chapter 11 protection in Jan. and said in March that U.S. Bankruptcy Court, Richmond, Va.,…
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had approved disclosure statement covering its reorganization plan. Motient had participated in 800 MHz specialized mobile radio service auction in 2000, later withdrawing high bids on 12 licenses. Subsequent re- auction for licenses from which Motient has withdrawn has closed, FCC said. It said bidder that withdrew from high bid during auction was subject to bid withdrawal payment that equaled difference between amount of withdrawn bid and amount of subsequent winning bid. If high bid is withdrawn on license that still is unsold at close of auction, withdrawing bidder must make interim payment equal to 3% of net amount of withdrawn bid, FCC said. Agency said debt calculated for Motient was due in full and immediately to U.S. govt.