Charter Communications granted final cash collateral access by court

By Jennifer Lanning Drey

Portland, Ore., April 15 - Charter Communications, Inc. received final court approval to use the cash collateral of its pre-bankruptcy lenders, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, Charter expects its cash on hand and cash from operating activities to be adequate to fund its projected cash needs, and therefore the company does not intend to seek debtor-in-possession financing.

However, the company said it requested access to the cash collateral for working capital and general corporate purposes.

The cash collateral use will expire six months from the entry of the interim order, which occurred on March 29.

Charter Communications is a St. Louis-based provider of video services, high-speed internet services and telephone services to residential and commercial customers on a subscription basis. The company filed for bankruptcy on March 27. Its Chapter 11 case number is 09-11435.

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