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Supreme Court Rules for NextWave
-- Decision Ends Nearly Five Years of Litigation; Clears Way for
Company to Complete Chapter 11 Reorganization
WASHINGTON, Jan 27, 2003 /PRNewswire via COMTEX/ -- The United States Supreme Court announced today that federal bankruptcy law protected NextWave
Telecom Inc. from having its PCS licenses cancelled by the Federal Communications Commission while the company was successfully reorganizing its business affairs in
Chapter 11 proceedings. The Court's decision, announced in an opinion filed by Justice Scalia, upholds a June 2001 ruling to the same effect by the U.S. Court of Appeals
for the District of Columbia Circuit and denies requests for reversal filed by the FCC and two of NextWave's wireless competitors, Arctic Slope Regional Corporation
and VoiceStream Communications (Nos. 01-653, 01-657).
"We are extremely pleased with the decision because it clears the way for us to move forward and complete our reorganization," said NextWave Chairman and CEO
Allen Salmasi. "This has been a difficult and arduous process for NextWave and its creditors and shareholders, as well as for the government. Everyone will benefit from
achieving finality, putting the litigation behind us, and getting the licenses into use as quickly as possible to provide service to the public and help fuel economic recovery. We
look forward to a constructive working relationship with the FCC as those goals are finally achieved."
NextWave already has paid the government over $500 million for licenses on which the company was the high bidder at FCC spectrum auctions. During the period
1999-2001, NextWave submitted to the bankruptcy court overseeing its reorganization three fully financed plans providing for complete payment of all the company's
debts, including all spectrum payments to the government, but implementation of each of those plans was deferred due to continued litigation. Using funds raised from
private sources, the company deployed an initial network of wireless facilities during 2001-2002 in all 95 markets in which it is licensed to provide service.
About NextWave:
NextWave Telecom Inc. was formed in 1995 to provide high-speed wireless Internet access and voice communications services to consumer and business markets. For
more information about NextWave, visit our Web site at http://www.nextwavetel.com, or contact:
Michael Wack
NextWave Telecom Inc.
202-661-2083
mwack@nextwavetel.com
or
George Evanko
Hill & Knowlton
202-944-3364
gevanko@hillandknowlton.com
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