LIGHTSQUARED SUBSIDIARY LLC Bankruptcy Filing
Case Number: 12-12094
LIGHTSQUARED SUBSIDIARY LLC filed a 11 chapter bankruptcy in the Southern District of New York bankruptcy court on May 14, 2012. This is a voluntary filing; it was assigned the bankruptcy case number #12-12094.
LIGHTSQUARED SUBSIDIARY LLC Filing Information
The bankruptcy petition for LIGHTSQUARED SUBSIDIARY LLC showed assets in the range of more than $1B with liabilities in the range of more than $1B. LIGHTSQUARED SUBSIDIARY LLC reports that the number of creditors is in the range of 1-49.
The debtor indicated their nature of business as 'None of the Above'. The nature of business option is fairly limited; most companies will chose 'None of the Above'. The options include: 'Health Care Business', 'Single Asset Real Estate', 'Railroad', 'Stockbroker', 'Commodity Broker', 'Clearing Bank', or 'None of the Above'.
LIGHTSQUARED SUBSIDIARY LLC indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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LIGHTSQUARED SUBSIDIARY LLC Docket Header
MEGA, JtAdm |
Southern District of New York (Manhattan)
Bankruptcy Petition #: 12-12094-scc
Assigned to: Judge Shelley C. Chapman Chapter 11 Voluntary Asset |
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| Debtor LightSquared Subsidiary LLC 10802 Parkridge Blvd. Reston, VA 20191 FAIRFAX-VA Tax ID / EIN: 54-2059821 aka SkyTerra Subsidiary LLC aka Mobile Satellite Ventures Subsidiary LLC |
rep. by |
Matthew Scott Barr
Milbank, Tweed, Hadley & McCloy 1 Chase Manhattan Plaza New York, NY 10005 212 530-5000 Fax : 212 530-5219 Email: mbarr @ milbank.com |
| U.S. Trustee United States Trustee Office of the United States Trustee U.S. Federal Office Building 201 Varick Street, Room 1006 New York, NY 10004 (212) 510-0500 |