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To: Quincy who wrote (38302)	8/19/1999 7:15:00 PM
From: quidditch	Read Replies (4) \| Respond to of 152472

NXTL and NEXTWAVE get more bizarre by the day. It it now clear that my earlier post presaged exactly what's going on--potential third party claims against NXTL's being awarded C-Block spectrum and the possibility of constitutional claims being raised on separation of powers principles. But what is truly bizarre--read the next two excerpts from Qunicy's url in juxtaposition. This is in the context of NW trying to get its plan of re-organization approved by the Bankruptcy Court and get on with business and the FCC having appeared at a Court proceeding in connection with Plan approval: Separately, NextWave announced that the U.S. District Court Southern District of New York, the Honorable Denny Chin presiding, on Tuesday rendered a decision denying the Federal Communications Commission's request to stay the effect of U.S Bankruptcy Court and District Court judgments favoring NextWave that were rendered earlier this year in its bankruptcy proceeding. During the hearing on the government's motion, Assistant U.S. Attorney Daniel Alter admitted to Judge Chin that ""[T]he government has been seeking in every way possible to stay the confirmation of [NextWave's] plan[.]" Mr. Alter also admitted that the government's recent actions in NextWave's bankruptcy proceeding result from the government's conclusion that, under existing law, "there is a very, very high likelihood" that appeals will be rendered moot if NextWave's plan is confirmed in September and becomes effective. The spokesperson also noted that Nextel's 8(k) filing yesterday with the U.S. Securities and Exchange Commission disclosing materials that were the subject of Nextel's press announcement last week "has created a distraction, but it is nothing more than that." The spokesperson continued, "The materials confirm that the FCC has not granted any of the waivers that any large wireless carrier would need to legally hold NextWave's licenses, nor has the FCC promised to grant such waivers. It is well understood that such waivers could be obtained, if at all, only in accordance with administrative law procedures that are typically elaborate and lengthy." NextWave's reading of the materials attached to Nextel's 8(k) filing is in concert with the statement made by Assistant U.S. Attorney Daniel Alter at last Friday's U.S. Bankruptcy Court hearing, where NextWave's motion for a TRO and injunction against Nextel was granted. "[T]he FCC has not granted any waivers or licenses and has not definitively confirmed a transfer of [NextWave's] licenses to any party," said Mr. Alter. The Bankruptcy Court's order of last Friday provides that NextWave's "PCS spectrum licenses are subject to the exclusive jurisdiction of this Court under and pursuant to [federal law], and such property cannot and will not be conveyed to or by any party without prior Court approval upon proper application, and any applicable regulatory approval, if any." "Proposals that require waivers of FCC rules would force NextWave's creditors and equity holders to risk losing everything while they wait for waivers to be filed and considered, objections by third parties overcome, and all appeals resolved," NextWave's spokesperson said. "All the while, the FCC would continue to seek retroactive legislation that would strip bankruptcy courts of jurisdiction over the FCC and the licenses currently held by NextWave," said NextWave's spokesperson." Just last week, FCC Chairman William Kennard sent a new proposal to Capitol Hill, asking Congress to "clarify" that provisions of the bankruptcy code do not apply to the type of small business spectrum licenses held by NextWave. So, while the FCC has not granted NXTL the right to the C-Block spectrum, as NXTL would have had the world believe last week, and which the thread properly condemned, the FCC is in court trying to overturn procedural rules that would make Bankruptcy Court jurisdiction superior to FCC administrative rulings in a case involving, among other things, C-Block. There are some very heavy agendas being played out here, folks. Yours in dumbfoundedness, Steven.