LightSquared Inc. reached a final agreement to use lenders' cash collateral after saying that it might have to liquidate without the deal, Bloomberg News reported yesterday. The accord gives the maker of wireless broadband technology enough money to fund operations until September 2013, Matthew Barr, a lawyer for LightSquared, told Bankruptcy Judge Shelley Chapman yesterday. As part of the deal, LightSquared agreed to pay the lenders $6.25 million a month and let them return to court to move to end the use of cash collateral, Barr said. The lenders, which own $1.1 billion of debt in LightSquared's "LP" unit, will allow the company to use as much as $190 million in collateral, Barr said.
