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Charter Defaulted On Credit Facility: JPMorgan

Law360 (March 30, 2009, 12:00 AM EDT) -- JPMorgan Chase Bank NA has filed an adversary complaint against two subsidiaries of bankrupt cable company Charter Communications Inc., alleging the subsidiaries made false statements in securing $750 million in loans under an existing credit facility.

According to the adversary complaint, filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, the two units, Charter Communications Operating LLC and CCO Holdings, said they would be able to pay off the increased debts when seeking the cash on four separate occasions between October...
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