When I first started this article I had no idea what "Lighty Compressor" is. After a little research I found out that it's a code compressor mostly used in the malware developing scene, which means it's not freely downloadable.
The text below does not pretend to be professionally written, and I don't pretend to be a reverse engineering expert. However, this is my approach of defeating code obfuscation and Lighty's compression.
The application I unpack in the lines below is an old malware sample, probably from the end of 2008, and it's called "buritos.exe".
So, get yourself a beer and continue reading!