The Supreme Court declined yesterday to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc., Reuters reported yesterday. Law Debenture Trust Co. of New York and R2 Investments objected when the No. 4 U.S. cable television operator filed for chapter 11 protection in March 2009, emerging in November of that year with its debts trimmed by $8 billion, or 40 percent. The bankruptcy was viewed as a major setback for Microsoft co-founder Paul Allen, a major investor. The objectors sued Charter, its affiliates and Allen himself because they said that they were left out of the reorganization negotiations between the company, Allen and other key investors. LDT was a trustee for holders of $479 million in bonds, while R2 was a stockholder. LDT was told it could recoup 32.7 percent of its claims, while R2 would receive nothing, according to court papers.
