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Technology Stocks : Nextwave Telecom Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (819)	9/17/2002 3:40:34 PM
From: Eric L	Read Replies (1) \| Respond to of 1088

re: Settlement? >> Nextwave Counsel Calls Litigation Settlement ‘Exceedingly Unlikely’ Sept. 17, 2002 Washington Global Wireless The counsel of record for bankrupt NextWave Telecom in the Supreme Court case said a settlement of the seemingly never-ending litigation with the Federal Communications Commission (FCC) is unlikely. “It is exceedingly unlikely. Most settlements require legislation to implement. That is what happened last time. There was a settlement, but legislation was necessary to implement it, and legislation did not get done by the end of the session. Given the timing of the argument and the Congress’ agenda, I think the prospects for settlement would be very low,” said Donald Verrilli, Jr. Verrilli made his comments at a Supreme Court preview sponsored by the Washington Legal Foundation. During the question and answer session, Verrilli would not close the door on a settlement being forged after oral argument in the Supreme Court takes place on 8 October. “At some point [a settlement] it is quite possible. … I wouldn’t rule it out at any point,” he said. The Supreme Court is set to decide whether the FCC erred when it canceled, reallocated and re-auctioned NextWave’s licenses for non-payment. The U.S. Court of Appeals for the District of Columbia Circuit ruled that it did, saying that the licenses are protected by the bankruptcy code. On 12 September, the FCC signaled it might allow the winning bidders in the NextWave re-auction to opt out of their bids. Verrilli will argue the case for NextWave. << - Eric -