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Technology Stocks : Nextwave Telecom Inc.
WAVE 8.150-0.9%Nov 11 3:59 PM EST

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To: Jon Koplik who wrote (281)1/26/2000 8:42:00 PM
From: JGoren  Read Replies (1) of 1088
 
it's free to get password. Second Circuit denied FCC motion for a stay against the bankruptcy court so FCC could re-auction spectrum.

"A U.S. appeals court rejected the FCC's motion to protect its decision to re-auction the 95 PCS wireless licenses in July. The FCC had sought to stop the bankruptcy court scrutinizing its decision."

actually it sounds more like the FCC made an application for writ of prohibition--which is different from a stay. Writ of Prohibition would mean that Second Circuit interpreted its own decision as allowing the FCC to revoke licenses and that if bankruptcy court did anything else, it would be interfering with the jurisdiction of the Second Circuit.

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