Creditors sue Optimum and Patrick Drahi over US restructuring
A group of Optimum creditors, including Apollo Global Management and Oaktree Capital, filed a lawsuit in a New York state court against the company, owner Patrick Drahi and former CEO Dexter Goei. The lenders allege fraudulent asset transfers moved billions out of reach while Optimum entities owe $21 billion in debt.
- Apollo Global Management and Oaktree Capital filed the suit in New York state court
- Creditors allege asset transfers while Optimum owes $21 billion in debt
- In June Optimum moved Cablevision into an unrestricted holdco and raised $3bn
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