Charlie Ergen, the largest creditor of bankrupt wireless venture LightSquared, on Friday objected to a framework of the company's restructuring plan that would pay him in the form of a note while giving other lenders cash payouts, Reuters reported on Friday. Ergen, through his investment vehicle SP Special Opportunities, filed court papers asking Bankruptcy Judge Shelley Chapman to rule that the plan is not financially feasible, and to do so before parties devote resources to obtaining creditor support for it. LightSquared's $33 million bankruptcy loan is set to run out around the end of March.
