New Jersey’s Charter Communications Inc. is seeking $25 million in bankruptcy to close its $60 million tax shelter

By Chris BrownByChris BrownPosted November 11, 2016 07:25:30New Jersey’s charter communications company Charter Communications, which is part of Alphabet, filed for Chapter 11 bankruptcy protection in the United States on Tuesday, just hours after filing for Chapter 7 bankruptcy protection.

Charter’s tax shelter was valued at $1.3 billion at the end of 2016.

It was the largest tax shelter in the country.

The company, which was founded in 2013 by the founders of the internet-enabled messaging app WhatsApp, has faced several regulatory investigations over the past few years.

Its financial position has been threatened by the U.S. Justice Department, which recently filed a lawsuit accusing Charter of unlawfully collecting and transferring user data in the name of its own advertising program.

Charters tax shelter, which would enable it to continue operating as an independent company, would also allow it to avoid any potential liabilities from a government crackdown on its ad business.

The bankruptcy filing comes a day after the Department of Justice said it was considering filing a civil lawsuit against Charter, arguing that the company is breaking federal laws by selling information about its users to advertisers and collecting personal information for the sole purpose of promoting its own ads.

Charm also faces multiple lawsuits, including one in New Jersey, over its business practices.

The department filed a suit in March against Charter for failing to comply with the Electronic Communications Privacy Act, a law designed to protect users from government surveillance.