8-KMaterial Agreements

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Material Agreement (Nov 13, 2009)

Filed November 13, 2009For Securities:CHTR

Summary

This Form 8-K filing from Charter Communications, Inc. (CHTR) on November 13, 2009, primarily serves to inform investors about an extension to the termination date of the Company's Restructuring Agreements. These agreements, along with a joint plan of reorganization, are crucial components of Charter's ongoing Chapter 11 bankruptcy proceedings, which commenced on March 27, 2009. The key development reported is that the Company, its subsidiaries, and certain affiliates, along with noteholders and primary shareholder Paul G. Allen, have agreed to extend the deadline for the effective date of the Plan of Reorganization. Originally set to terminate if not effective by November 12, 2009, the Restructuring Agreements are now subject to termination if the Plan's effective date does not occur by November 27, 2009. This extension provides additional time for Charter to finalize its restructuring efforts within the bankruptcy court.

Key Highlights

  • 1Charter Communications filed a Form 8-K on November 13, 2009, reporting on its Chapter 11 bankruptcy proceedings.
  • 2The Company, its subsidiaries, and affiliates voluntarily filed for Chapter 11 protection on March 27, 2009.
  • 3Key Restructuring Agreements with noteholders and Chairman Paul G. Allen have been amended.
  • 4The primary purpose of the amendment is to extend the termination deadline for these Restructuring Agreements.
  • 5The deadline for the effective date of the Plan of Reorganization was extended from November 12, 2009, to November 27, 2009.
  • 6This extension provides additional time to finalize Charter's pre-arranged joint plan of reorganization.

Frequently Asked Questions

This 8-K filing is primarily to report that Charter Communications has entered into a Fifth Amendment to its Restructuring Agreements. This amendment extends the termination date for these agreements, which are part of the company's ongoing Chapter 11 bankruptcy proceedings, by two weeks.

The Restructuring Agreements are key agreements that Charter Communications entered into with certain noteholders and its primary shareholder, Paul G. Allen, prior to filing for Chapter 11 bankruptcy. These agreements are critical for the implementation of the company's joint plan of reorganization.

The Restructuring Agreements were subject to termination if the effective date of the Plan of Reorganization had not occurred by November 12, 2009. The Fifth Amendment extends this deadline to November 27, 2009.

No, this filing does not indicate an exit from bankruptcy. It is an update on the ongoing Chapter 11 process, specifically concerning the timing of the plan of reorganization and related agreements. The extension of the termination date suggests that the restructuring process is still in progress.