Apollo, BlackRock, Oaktree Ask Judge to Toss Altice Lawsuit

Core Viewpoint - Lenders to Altice USA Inc., now known as Optimum Communications Inc., are seeking to dismiss a lawsuit alleging collusion to exclude the company from the US credit market, arguing that the company is misusing antitrust laws to gain leverage in debt negotiations [1][2]. Group 1: Legal Proceedings - The lenders, including Apollo Capital Management, BlackRock Financial Management, and Oaktree Capital Management, filed a motion in New York to dismiss the lawsuit, asserting that Altice is improperly attempting to block creditors from collaborating during renegotiations [1]. - The lawsuit, filed by Optimum in November, claims that the lenders violated federal law by entering into cooperation agreements that allegedly suppressed competition among creditors [2]. Group 2: Company Position - Optimum Communications Inc. stated that the lawsuit aims to defend its legal rights and to ensure access to competitive and fair credit markets [3]. - The company has been facing significant financial challenges due to a heavy debt load and has recently restructured its legal advisory team by hiring White & Case in anticipation of a potential restructuring [3].