Adelphia Seeks To Settle $87M Verizon Claim

Law360, New York (September 25, 2006, 12:00 AM EDT) -- Adelphia Communications Corp. is seeking approval of a settlement agreement that would lay to rest more than $87 million in claims the bankrupt cable provider owes to Verizon Media Ventures Inc.

In court documents filed late Friday in the U.S. Bankruptcy Court for the Southern District of New York, Adelphia said the claims relate to three asset purchase agreements for the sale of Verizon’s cable television assets in Ventura County, Calif., Cerritas, Calif. and Pinellas County, Fla. in December 2001.

Those transactions were valued at $46...
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