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Technology Stocks : Leap Wireless International (LWIN)

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To: pcstel who wrote (1221)	2/1/2002 12:57:15 AM
From: pcstel	Read Replies (1) of 2737

FCC to keep deposit money until Supreme Court rules WASHINGTON—The Federal Communications Commission has decided to keep deposits from the re-auction winners of the PCS C- and F-block licenses of bankrupt NextWave Telecom Inc. and Urban Comm-North Carolina Inc. rcrnews.com *C AND F BLOCK BROADBAND PCS SPECTRUM AUCTION SCHEDULED FOR NOVEMBER 29, 2000, RESCHEDULED FOR DECEMBER 12, 2000 REVISED LIST OF AVAILABLE LICENSES* E. Clarification of Payment Issue Relating to Licenses Subject to Pending Proceedings As noted above, potential bidders should be aware that certain of the licenses included in Auction No. 35 are or may become the subject of Commission or judicial proceedings initiated by parties claiming to have continuing interests in the licenses, despite their failure to meet payment obligations. This Public Notice clarifies that the Commission will return the payments made by winning bidders of licenses in Auction No. 35 in the event that such bidders are subsequently required to surrender licenses won to prior applicants or license holders as a result of final determinations reached in pending proceedings. The Commission, however, will not pay interest on the returned payments as it lacks legal authority to do so. Including contested licenses in the auction helps to fulfill the Commission’s statutory mandate to hasten the development and deployment of new technologies and services and to promote competition for the benefit of the public. Returning payments to winning bidders if licenses won are later determined to be unavailable due to subsequent resolution of other proceedings furthers these vital public interest goals by reducing uncertainty in the licensing process and encouraging auction participants to bid on licenses regardless of whether they are subject to pending proceedings. Retaining payments under the circumstances could have a chilling effect on participation in Auction No. 35 and would therefore undermine our efforts to encourage more efficient use of the spectrum. We note that winning bidders of licenses subject to pending proceedings are still required to meet the normal payment and construction schedules established by the Commission. wireless.fcc.gov PCSTEL

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