2nd Circ. Rejects Adelphia Creditors' $4.3B Claim

Law360, New York (May 27, 2010, 3:50 PM EDT) -- A federal appeals court has shot down a bid by a trust set up for the benefit of Adelphia Communications Corp. creditors to recover about $3 billion from banks that they allege contributed to the company’s collapse.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit said in a two-page per curiam opinion that the arguments made by the Adelphia Recovery Trust on appeal were “without merit.”

“We are pleased that the Second Circuit quickly disposed of these claims, affirming the careful...
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