CHARTER plc Litigation Update
24/12/2003
The Board of Charter is pleased to announce that a New York court has denied the motion for summary judgment brought by certain holders of US private placement loan notes due in 2007 and 2009. The court has similarly denied Charter’s cross motion for summary dismissal of the note holders’ action. Accordingly, the action instigated by the loan note holders, seeking a declaration that an event of default under their loan notes has arisen, will proceed to trial on 2 February 2004.
The Board of Charter remains convinced that no such event of default has occurred and looks forward to presenting its case.
Contact
Andrew Fenwick, Brunswick +44 (0) 20 7404 5959, +44 (0) 7974 982 315