Ex-LightSquared CEO Appeals Rehearing Fight to Supreme Court
Former LightSquared CEO Sanjiv Ahuja took his fight against the company's Chapter 11 reorganization to the Supreme Court, according to a 2nd Circuit U.S. Court of Appeals notice posted Monday of an August writ of certiorari filing. Ahuja -- a…
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major shareholder in the company now known as Ligado -- challenged the reorganization plan, arguing it wasn't fair because it overpaid some senior creditors with undervalued equity in the reorganized company, but the 2nd Circuit in May denied his petition for rehearing (see 1605120001).