Troubled LTE telecom company LightSquared may default on a $1.6 billion loan and reported a net loss of $427 million for the first three quarters of 2011, forcing founder Philip Falcone to consider a "voluntary bankruptcy" to stave off creditors, Reuters reports. The move would buy time for Falcone and his hedge fund Harbinger Capital Partners to find ways to salvage the company, which has hit government resistance to its plan to create a satellite "4G" network.
