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Charter seeks dismissal of JPMorgan lawsuit

Tue, 04/07/2009 - 8:40am
Mike Robuck

Charter Communications, the nation’s fourth-largest cable operator, will file a motion that is aimed at dismissing a lawsuit filed by JPMorgan Chase & Co.

JPMorgan is representing some lenders in Charter’s March 27 bankruptcy filing. On the same day, JPMorgan questioned Charter’s plan to “reinstate,” or keep the existing terms, on its $11.8 billion of debt, according to Bloomberg.

JPMorgan’s beef is that the plan filed by Charter favors founder and Chairman Paul Allen over the parties that lent Charter $8.5 billion in 1999 in a deal put together by JP Morgan.

Lawyers for Charter said in a pretrial conference yesterday in U.S. Bankruptcy Court for the Southern District of New York that they plan to file a motion to dismiss the lawsuit.

U.S bankruptcy judge James Peck set July 23 as the possible start date for a three-day trail. Peck will hear arguments on Charter’s motion to dismiss the lawsuit on April 29.

More Broadband Direct 04/07/09:

•  Charter seeks dismissal of JPMorgan lawsuit
•  Clearwire to use Amdocs' BSS

•  Verizon set to dig in on Philly deployment

•  First EuroDOCSIS 3.0 certifications granted
•  Motorola rolls out encoder for MDUs, commercial buildings
•  Exfo gets order for new PMD analyzer
•  Choice Cable chooses IBBS' BBX software
•  MetroPCS mimics landline with family `GroupLine'
•  Sun unmoored as acquisition talks hit standstill
•  Broadband Briefs for 04/07/09

 

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