| NEW YORK, July 13
NEW YORK, July 13 Wells Fargo Bank NA (WFC.N),
one of bankrupt Charter Communications Inc's CHTRQ.PK
creditors, sought court permission on Monday to file a sealed
objection to the bankrupt cable-television operator's
reorganization plan ahead of a hearing next week.
The objection would contain materials "it would not want to
be made public" and were "highly sensitive and confidential"
regarding one or more of the parties involved, Wells Fargo said
in court documents filed in federal bankruptcy court in
Wells Fargo, which is acting as an agent for third-lien
lenders to CCO Holdings LLC, a unit of Charter, previously
objected in April to the plan, saying it was too risky and
could potentially fall apart.
A confirmation hearing is set for July 20 at which the
court will decide whether to approve Charter's pre-arranged
plan, including the reinstatement of $11.8 billion in debt.
Charter, which is controlled by Microsoft Corp (MSFT.O)
co-founder Paul Allen, filed for bankruptcy protection in March
under the weight of $21.7 billion in debt.
Under Charter's proposed plan, debt held by secured
creditors will be reinstated and unsecured claims paid in full,
while shareholders, except for Allen, will be wiped out. Allen
is set to get up to 7 percent of the reorganized company's
equity and keep the largest voting interest in the company, at
On Friday, Charter asked the court for a 120-day extension
of the period during which it has exclusive control of its
affairs as a precaution, because its current "exclusivity
period" ends July 25.
The bankruptcy case is In re Charter Communications Inc,
U.S. Bankruptcy Court, Southern District of New York, No
(Reporting by Phil Wahba; editing by Andre Grenon)