LightSquared and its creditors, including Dish Network Corp. Chairman Charles Ergen, will go into court-ordered mediation to settle on a plan to restructure the bankrupt wireless venture, Reuters reported yesterday. Bankruptcy Judge Shelley Chapman had given sides until yesterday to forge a consensual plan to get LightSquared out of chapter 11, or else mediate under Bankruptcy Judge Robert Drain. Paul Basta, a lawyer for an independent committee supervising the LightSquared restructuring, said yesterday that the sides had made some progress on a new deal but needed help getting "across the finish line."
