Lenders Apollo, BlackRock, Oaktree Seek Dismissal of Altice Antitrust Lawsuit (NYSD 25-cv-9785)

Creditors Apollo Capital Management, BlackRock Financial Management, and Oaktree Capital Management have moved to dismiss Optimum Communications Inc.’s (NMS: OCOM) (OTC: OCOMF) antitrust lawsuit, arguing the company is using federal law to block creditor cooperation in restructurings. The New York federal court filing contends that U.S. antitrust rules do not apply to creditor collusion in debt workouts and that Altice seeks to weaponize such laws to gain leverage in renegotiations. The lenders allege Altice is attempting to rewrite credit contracts by citing cooperation agreements among creditors, which are designed to negotiate as a bloc for greater leverage. The motion seeks dismissal of the November filing, which alleges violations of federal law by pacts meant to limit competition among creditors. Altice, now Optimum Communications Inc., is in financial distress under heavy debt and is seeking legal advice to prepare for a potential restructuring, according to a court filing and a statement from White & Case, the firm it hired to advise on its recapitalization.