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Charter Still Fighting With Creditors That Would Rather Avoid Bankruptcy
In: broadbandreports.com|Communication|Computer|Finances|Internet|Networks|Site Feeds|Software|VoIP
23 Nov 2009
Charter Communications continues to battle with the companies lenders, who are trying to prevent the bankrupt cable company from exiting bankruptcy so they can appeal a court ruling approving the reorganization. Creditors have been fighting against Charter’s reorganization plan all summer and fall, primarily because they don’t like the pre-bankruptcy interest rates agreed to in the deal. “Hundreds of millions of dollars of additional interest and would put at peril the entire plan,” Charter attorneys claim in court filings.
Last week Charter executives indicated that a post-bankruptcy Charter would explore price hikes and metered billing for the company’s customers.
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