Dish Network Corp. Chairman Charles Ergen, the largest creditor of bankrupt wireless company LightSquared, is seeking permission to sue Phil Falcone, the investor whose Harbinger Capital fund controls LightSquared, Reuters reported on Friday. In a court filing on Friday, Ergen asked the judge overseeing LightSquared's chapter 11 case for permission to bring a lawsuit alleging Falcone mismanaged the company, focusing on preserving his own investment at the expense of other stakeholders. LightSquared, majority-owned by Harbinger, went bankrupt in 2012, when the Federal Communications Commission revoked its license to operate spectrum out of concern it could interfere with GPS systems. Ergen then acquired about $1 billion of the company's senior loan debt, giving him a controlling stake in LightSquared's capital structure.
