Lenders to Charter Comm. appeal reorganization plan

WILMINGTON, Del. Nov 23 (Reuters) - Lenders to Charter Communications Inc said on Monday they plan to appeal to the 2d U.S. Circuit Court a bankruptcy judge's ruling that reinstated payment for their debt at below market rates.

A U.S. bankruptcy judge approved Charter Communications' CHTRQ.PK reorganization plan last week, but the appeal could prevent the cable television operator from exiting Chapter 11, at least temporarily.

Shareholders and bondholders have also asked the bankruptcy judge to delay implementation of his confirmation order while another court hears their appeal.

Attorneys for JPMorgan Chase & Co asked the judge to allow them to appeal directly to the 2d U.S. Circuit Court of Appeals, bypassing the local U.S. District Court.

"The confirmation order is the first of its kind," JPMorgan's lawyers wrote in arguing for a stay. "It compels financial institutions to lend a post-bankruptcy reorganized company $8.4 billion, on pre-bankruptcy terms, over the lenders' objection."

Attorneys for Charter, the fourth-largest U.S. cable operator, said postponing the confirmation of the plan would cost the company hundreds of millions of dollars in additional interest payments.

"The objectors hope to derail this carefully balanced and negotiated prearranged plan, confirmed by the court, in pursuit of their own individual aspirations for a richer deal for themselves," said a court filing from the company.

The case in re: Charter Communications Inc, U.S. Bankruptcy Court, Southern District of New York, No. 09-11435. (Additional reporting by Emily Chasan, editing by Leslie Gevirtz) ((thomas.hals@thomsonreuters.com; 1-302-993-6283; Reuters Messaging thomas.hals.reuters.com@reuters.net))