Philip A. Falcone’s bankrupt LightSquared Inc., said that it foresees competing proposals to reorganize its assets and asked the court for a deadline of Sept. 4 to take proposals, Bloomberg News reported on Friday. The broadband network services provider, also facing a $2 billion cash offer for its assets from an entity owned by Dish Network Corp. Chairman Charlie Ergen, lost the exclusive right to control its reorganization July 15. It hasn’t been able to get creditor support for a reorganization timeline and is proposing a streamlined process, it said on Friday in court papers. LightSquared asked the bankruptcy court for permission to have outlines of all competing plans filed by Sept. 4, with a Dec. 16 confirmation hearing to approve the best offer.
