Sandpaints - the "closing date" means the consummation date of the Transaction (AT&T buying Fibertower 2/17) per the Settlement Agreement.
Also, per the Settlement Agreement - the transaction needs to be consummated within 180 days of the Effective date or everything is returned to "the status quo ante" and the settlement agreement becomes null and void.
so the way I read this:
1) they have 180 days to consummate the transaction
2) if they don't consummate the transaction, everything goes back to the way it was - licenses, remand proceeding, etc
3) if they do consummate the transaction, the Chapter 11 case needs to be closed NO LATER than 3 days from the Closing Date. Which could be 6 months from now.
So for all this to happen, the TRANSACTION still needs to be consummated. Hopefully in a "respectful manner"