SEC Says Charter Plan Protects Chair From Liability

Law360, New York (July 13, 2009, 12:00 AM EDT) -- Charter Communications Inc.’s plan of reorganization has triggered a growing chorus of outcries as federal regulators, investors and lenders alike come out against a plan they say primarily protects the bankrupt cable company's chief shareholder Paul G. Allen.

On Monday, more objections poured in to the U.S. Bankruptcy Court for the Southern District of New York claiming that Charter’s plan fails to serve the interests of economic stakeholders and improperly releases nondebtors, including Allen, Charter's chairman, from liability in connection with the company’s plight.

Reinforcing objections...
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