NextWave Telecom Statement On December 22, 1999, Opinion of the Second Circuit United States Court of Appeals
HAWTHORNE, N.Y., December 23, 1999 -- Late yesterday, NextWave received the opinion of the United States Court of Appeals for the Second Circuit. Although we had hoped for an affirmation of the District Court's decisions, nevertheless, consistent with the opinion received, we are fully positioned to work closely with the Federal Communications Commission (the "FCC") to implement a market-based solution that results in the immediate assumption of the full amount of the original debt obligation, immediate payment of all accrued interest and principal to date while presenting a plan to the FCC and the bankruptcy court that is fully compliant with the FCC rules. NextWave has assembled a world class team -- comprised of strategic partners, financial institutions and highly qualified vendors -- to begin deploying one of the first of the third generation IP-based packet switched wireless networks in the world and put the licenses into productive use in the very near-term.
###
For More Information:
NextWave
Matthew Rose
The MWW Group
(201) 964-2376
mrose@mww.com
Michael Wack
Michael Regan
NextWave Telecom, Inc.
(202) 347-2771
mwack@nextwavetel.com
mregan
|
