Bankruptcy Judge Shelley C. Chapman said yesterday that she plans to approve LightSquared's access to a $51.4 million bankruptcy loan from a group of the wireless-satellite company's lenders that will keep the company running through November 2013, Dow Jones Newswires reported yesterday. Judge Chapman's approval of the debtor-in-possession financing would immediately release $30.6 million to LightSquared, although the company set a strict timetable as to how it plans to use the money. Last month, the company said that the loan would be only $30 million in total, but now it said that other cash it previously thought it could access was "not as easily available" as originally thought. Judge Chapman said that she would review the changes to the financing and most likely sign off on it by the end of the day.
