Reuters: Bankruptcy News: LightSquared edging closer to bankruptcy filing

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

LightSquared edging closer to bankruptcy filing May 13th 2012, 17:55 Sun May 13, 2012 1:55pm EDT May 13 (Reuters) - Philip Falcone's telecom start-up LightSquared edged closer to a bankruptcy filing on Sunday as the hedge fund manager was far from an agreement with creditors, sources familiar with the matter said. Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach an agreement or face a default on a $1.6 billion loan, sources said.

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