LightSquared's biggest lenders are questioning the company's ability to clear regulatory hurdles and build out its high-speed wireless network, steps upon which its viability depends, Dow Jones Daily Bankruptcy Review reported today. "Remote" and "highly unlikely" are how lenders behind some $1.1 billion of $1.7 billion in secured bank debt describe the possibility that LightSquared will overcome hurdles it has faced over the past decade and begin generating substantial income upon its exit from bankruptcy proceedings, according to court papers filed on Tuesday.
