EchoStar Bondholders Huddle With Advisers as Default Looms (1)

Bondholders to EchoStar Corp. are working with law firm Akin Gump Strauss Hauer & Feld and investment bank Centerview Partners LLC as the telecommunications company mulls a potential bankruptcy filing amid a Federal Communications Commission probe, according to people familiar with the matter.

The moves come as the company controlled by billionaire Charlie Ergen announced at the end of May it was skipping bond coupon payments, said the people, who asked not to be named because they can’t speak publicly. That set the clock ticking for a default unless the company pays up before the end of a 30-day grace ...