Adelphia Communications announced Feb. 13 that it has emerged from bankruptcy protection after more than four years, but the cable company's trip through the courts isn't over. Despite acknowledging that delaying the Chapter 11 exit could cost $1 billion or force the reorganization plan to collapse, Judge Shira A. Sheindlin of the U.S. District Court for the Southern District of New York stayed the reorganization plan so that an appeal by an Adelphia bondholders group could be considered.
February 20, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Adelphia Communications Corp. announced Feb. 13 that it has emerged from bankruptcy protection after more than four years, but the cable company’s trip through the courts isn’t over quite yet.
An appeal from a group of Adelphia bondholders known as the ACC Bondholder Group is pending, according to the group’s lawyer, Martin J. Bienenstock of Weil, Gotshal & Manges.
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