Andrew Scurria

The Second Circuit Court of Appeals in New York upheld the chapter 11 restructuring of Windstream Holdings Inc., finding bondholder complaints about the debt-cutting plan moot because reversing it would mean unwinding transactions that have already taken place. The court backed Windstream's 2020 restructuring, which put Elliott Management Corp. and other senior creditors in control of the business while wiping out junior bondholders owed roughly $2.4 billion. 

Ligado Networks LLC’s plan to develop some of the nation’s most valuable airwaves is being undercut by disagreements between US regulators over the deployment of 5G technology—miring the company’s business in a holding pattern and pressuring its finances. Ligado, the wireless venture formerly known as LightSquared Inc., has waited more than 1,200 days for permission to repurpose a swath of wireless spectrum that has emerged as a sticking point as federal agencies debate whether and how to build out proposed 5G networks.