WASHINGTON-NextWave Telecom Inc. and engineering provider LCC International Inc. have concluded negotiations revolving around the C-block winner’s default of a March 31 payment for services. A $2 million wire transfer was made to LCC from NextWave on or about April 23.
According to a written release circulated by both companies, the agreement gave NextWave the opportunity to “pay LCC the $5.9 million and other trade payables over an extended period of time.” Both companies made a deliberate decision not to expand on the terms and the time period of the repayment beyond the announcement.
NextWave spokeswoman Jennifer Walsh would not comment on whether LCC’s condition of cash up front was still part of the settlement, but she did say, “LCC is continuing to provide services and we are meeting all our financial obligations.”
