Gordian Group advised the FCC in connection with the bankruptcy of certain failed “C-Block” licensees.
Client: Federal Communications Commission ("FCC")
Subsequent to the FCC’s auction of “C-Block” licenses, some of the licensees filed for bankruptcy. Combined, these entities owed the government $2.4 billion through obligations secured by the spectrum licenses. These matters involved numerous difficult issues such as license reauction values, merger market issues and valuation of business plans.
As an important part of Gordian Group’s assignment, we advised the FCC regarding the realization of value on its claims, in light of government policy objectives and other key matters.
Gordian delivered valuation and strategic views to the FCC in connection with the restructuring. Gordian’s guidance provided important underpinnings of certain aspects of the government position in this in respect of Next Wave, Pocket Communications and others.