Judge green lights Amp'd/Verizon deal

Amp'd Mobile will pay Verizon Wireless $2.5 million to continue operating over the Verizon network during Chapter 11 reorganization. Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court in Wilmington, Delaware signed off on the deal. The $2.5 million is earmarked to pay down a portion of Amp'd Mobile's post-bankruptcy debt to Verizon, which has billed the MVNO $10.6 million for post-bankruptcy network access and services.  

Late last month, Amp'd agreed to drop the lawsuit it filed after VZW declared default on its wholesale agreement on May 22. According to court papers, the Verizon litigation has "hindered (Amp'd Mobile's efforts) to procure debtor in possession financing."

For more on the Amp'd/Verizon settlement:
- read this Forbes article