Charter Dueling With Annoyed Creditors – Some of whom don’t think company was honest about their financials…

In: Communication|Computer|Hardware|Site Feeds|Software|VoIP

30 Mar 2009


The other day Charter Communications rather cheerfully announced they’d be filing Chapter 11 as part of a restructuring that will trim about billion from their billion debt load. The “good news” (to use CEO Neil Smit’s words) may not be so good, given the restructuring has annoyed some investors. Little Rock’s Key Colony Fund has sued Charter for fraud, claiming the carrier misled investors by repeatedly claiming they had “sufficient liquidity through the year 2009 to meet its debt obligations.” Meanwhile, according to Bloomberg, JPMorgan is opposing Charter’s attempt to “reinstate” .8 billion in debt, which could force the carrier to take out additional loans in a time of tight credit. Charter also today received a delisting warning from NASDAQ.

Despite all of the problems and fiscal wrangling, Charter customers shouldn’t lose service. Probably.
read comment(s)


Link to the original article…

Comments are closed.

Sponsors


HardCE.com - Apple iPhone and iPod Touch cases, solar cases and battery cases Far and Beyond - All-Natural Body and Health Products
125_125 Advertise with Remove The Labels Smartlive Try RingCentral Fax FREE for 30 Days Save In 2010 at Woodpellets.com 125x125 Run Windows on Mac OS X with no reboot! Logoworks Logo Design

Featured Message


The Internet has come a long way since its inception. There are now several different ways to get an internet connection. One can do this by inserting wireless internet card in computer or can use DSL. Apart from this, internet phones and ip phones are there as well to help people connect internet through phones. Internet telephony is not the last option available, wireless internet providers are there as well to offer internet connectivity.


Buy cell phone accessories 70% off retail

for your Apple iPhone.




Hot Deals



Asus X44L-BBK4 Intel Core i3-2330M 2.26GHz 14in Laptop (4GB/500GB) $349.99

Caseable Custom Cases for Laptops, MacBook, iPad and Kindle Review

Twitter Updates

    Categories