Charter Can Tap $640M In Cash Collateral: Judge

Law360, New York (April 1, 2009, 12:00 AM EDT) -- Charter Communications Inc. has received permission to access at least $640 million in cash collateral as well as to enter into a debtor-in-possession surety bond agreement in order to continue operating under Chapter 11 protection, which the company sought earlier this month to shed some $8 billion in debt.

On Monday, Judge James M. Peck issued orders in the U.S. Bankruptcy Court for the Southern District of New York providing interim approval to the cable and broadband service provider’s requests to tap the cash accounts as...
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