Charter extends Chapter 11 timetable
Charter Communications has filed an amendment in its Chapter 11 proceedings in which it is reserving the option for more time to, if needed, negotiate its debt restructuring deal with Charter Chairman Paul Allen.
The amended agreement gives Charter until Nov. 2 to exit bankruptcy, or until Dec. 15 if Charter has not obtained the necessary permits and regulatory approval in connection with its reorganization plan by that date, according to Reuters.
Charter filed for Chapter 11 in March.
The cable operator had hoped its debt restructuring would be a fairly quick process, but several of its banks objected to Charter’s original plan.