Supreme Court Rules In Favor of NextWave
Jan 27, 2003, 11:19 AM by (staff)
The U.S. Supreme Court ruled this morning that bankrupt NextWave Telecom can keep valuable wireless licenses, rejecting attempts by the FCC to repossess and re-auction them. The high court, by a vote of 8-1, upheld an appeals court decision that found the agency's action had violated federal bankruptcy law. NextWave won the licenses at a 1996 auction but filed for bankruptcy protection before paying for them. Now NextWave can finish building a network or sell the licenses to other companies. It will free up wireless spectrum in dozens of crowded markets, including Chicago, Los Angeles, New York, Philadelphia, San Francisco, Seattle and Washington.
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