US Trustee Slams Charter's Disclosure Statement

Law360, New York (April 24, 2009, 12:00 AM EDT) -- The U.S. trustee overseeing the Chapter 11 case of Charter Communications Inc. has criticized the bankrupt company's disclosure statement as “deficient” and has asked a judge to withhold approval.

The trustee, Diana Adams, filed an objection in the U.S. Bankruptcy Court for the Southern District of New York on Thursday, saying the disclosure statement accompanying Charter's reorganization plan contained an overly broad nondebtor release provision, with no apparent justification.

“Accordingly, absent further disclosure and explanation, the disclosure statement fails to contain adequate information and should not...
To view the full article, register now.