Apollo and Oaktree Sue Patrick Drahi Over Optimum Restructuring Plan

Key Facts

1Apollo and Oaktree have filed a lawsuit against billionaire Patrick Drahi over a restructuring plan for Optimum Communications assets.

2Bondholders argue the plan aims to move valuable cable TV assets out of the reach of creditors.

Apollo and Oaktree have filed a lawsuit against billionaire Patrick Drahi over a restructuring plan for Optimum Communications assets. The Financial Times reported that bondholders argue the plan aims to move valuable cable TV assets out of the reach of creditors.

The legal action centers on allegations of shifting assets within Drahi's telecom empire to avoid debt obligations. Shares of OPTU closed at $1.01 on September 28, 2026, as the conflict highlights increased credit risk and volatility concerns for the entity.