LightSquared payment to Inmarsat overdue

US wireless network operator LightSquared has failed to stump up a payment due to global mobile satellite communications services provider Inmarsat.

US wireless network operator LightSquared has failed to stump up a payment due to global mobile satellite communications services provider Inmarsat.

The two companies have a co-operation agreement, under which LightSquared has been making a series of scheduled payments to Inmarsat in line with contractual milestones but according to the satellite company the payment of $56.25m from LightSquared which became due upon the completion of the "Phase 1 transition" has not been received.

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