Policyband

Cable One, Escalating Debt Battle with CoBank, Challenges ‘Insolvency’ Allegation

Cable One says, ‘CoBank does not allege, nor could it, that Cable One has missed an interest or principal payment'

Ted Hearn

Ted Hearn

— 8 min read
Cable One, Escalating Debt Battle with CoBank, Challenges ‘Insolvency’ Allegation
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Courts: Cable One is sharply escalating its fight with creditor CoBank, telling a federal judge that the lender’s attempt to block a $480 million payment is built on distortions and manufactured panic.

In an Oct.13 filing in the Southern District of New York, the company blasted CoBank’s claims about its financial condition. “Cable One disputes CoBank’s allegation of insolvency,” the company wrote, before delivering its most forceful rebuttal. “For all its bluster about Cable One’s purported insolvency or near‑insolvency, CoBank does not allege – nor could it – that Cable One has missed an interest or principal payment or will do so imminently. Should CoBank suffer actual harm, it is a secured creditor with numerous remedies available to it.” (More after paywall)

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