Charter Chapter 11 Ruling Nears

Judge to rule on reorganization plan Sept. 30

September 30 could be a big day in the annals of Charter Communications. That is the day when U.S. Bankruptcy Court Judge James Peck is expected to rule on whether the MSOs reorganization plan will pass muster.
Charter filed for Chapter 11 bankruptcy protection on March 27 and expected a smooth path toward approval. Its reorganization plan will essentially put control of the company in the hands of its bondholders -- mainly Apollo Asset Management, Oak Tree Capital Partners, Crestview Asset Management, Fidelity and Franklin Resources - reduce its overall debt by $8 billion and pump an additional $3 billion in new equity into the company.
But so far the path has been anything but smooth.
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