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Technology Stocks : Nextwave Telecom Inc.

WAVE 8.150

-0.9%

3:59 PM EST

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To: Michael Allard who started this subject	6/21/2002 3:34:51 PM
From: kech	Read Replies (2) of 1088

NextWave Files High Court Arguments WW Staff June 21, 2002 news@2 direct WASHINGTON -- NextWave Telecom filed its arguments at the Supreme Court today, as the Court heads toward a decision that would clarify who owes what to whom in the three-year old spectrum debacle. NextWave is battling the Federal Communications Commission over whether the government had the right to seize the 1900 MHz spectrum licenses it won at auction, but never paid for before seeking bankruptcy court protection. NextWave contends that its licenses are protected from such a seizure and has been clinging to them in hopes of either selling the spectrum to other carriers or building out its own national wireless network to support a wholesale airtime sales strategy. The FCC, the other party in the case, filed its arguments back in May. The FCC argued that bankruptcy protection doesn't extend to NextWave's 1996 bid for the spectrum, acquired in the so-called 'C-block' auction. The Commission said the bid was part of a regulatory proceeding and not a debt as defined by the regulatory code.

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