Deal With Chairman Extends Charter's Time In Ch. 11

Law360, New York (October 14, 2009, 7:31 PM EDT) -- Charter Communications Inc.'s stay in bankruptcy court could be extended until December following an agreement between the company and its chairman, Microsoft co-founder Paul G. Allen, that opponents say wrongly benefits him.

Under an amendment to a third restructuring agreement filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, Charter has until Nov. 2 to gain approvals of the plan from regulators covering 80 percent of the cable company's subscriber base.

If Charter is unable to gain the 80 percent approval...
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