Open Range's creditors direct fire at USDA, FCC over loan

The creditors of Open Range Communications, which filed for bankruptcy protection late last year, are training their fire on the FCC and Department of Agriculture over their handling of a 2008 government loan awarded to Open Range. According to the Washington Times, a committee of unsecured Open Range creditors accused the Agriculture Department of a breach of the loan contract. The creditors allege that the USDA's Rural Utilities Service, which awarded the loan, knew Open Range wasn't following a requirement that the company pay its vendors before seeking reimbursement from federal loan funds. The Agriculture Department said the matter is in litigation and is being handled by the Justice Department, and declined to comment further. Meanwhile, $100 million worth of Open Range's assets are being auctioned off Jan. 11. The auction is is being run by Heritage Global Partners and Proxibid, two auction firms, and includes items such as routers, spectrum analyzers, servers and even laptops. Article

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