Bankruptcy Judge Shelley Chapman ruled yesterday that wireless venture LightSquared can move forward with a restructuring proposal over the objections of its biggest creditor, Dish Network Corp Chairman Charles Ergen, Reuters reported yesterday. Judge Chapman approved the framework of a plan at a hearing yesterday, which means LightSquared can lobby creditors to support its plan before a hearing on final confirmation next month. Ergen contends that the plan would treat his claims unfairly, while LightSquared has argued in a separate lawsuit that Ergen built up his debt position illegally and that it should be reduced or wiped out. Judge Chapman ruled the debate should be left until the confirmation stage. A final confirmation hearing is due to begin on March 17. Closing arguments in the lawsuit against Ergen are set for March 12.
