A couple of points
Moreover, to the extent the Bankruptcy Petitioners could have any interest as former shareholders of old FiberTower, their allegations raise private, contractual disputes. And, “t is well established that the Commission is not the proper forum for resolving private contractual disputes.”62
Since the FCC is a party in the dispute there is nothing that says they can't involve themselves in this matter if they feel it's necessary
And regarding this point
The Bankruptcy Petitioners’ attempt to unilaterally amend the Plan so as to provide them with an upside interest in Reorganized FiberTower in perpetuity is contrary to the unambiguous terms of both the Plan and the Bankruptcy Code.
This is for a judge to decide, and since the court placed a stay on the return of the licenses to the FCC, the perpetuity argument they make is very weak.
