Court OK's Adelphia's Chapter 11 Plan

Law360, New York (February 12, 2007, 12:00 AM EST) -- After weeks of wrangling, a district court judge gave Adelphia Communications Corp.’s reorganization plan the green light Monday, moving the cable provider one step closer to emerging from Chapter 11.

U.S. District Court Judge Shira A. Scheindlin, who put the case on hold on Jan. 24 after a group of Adelphia’s bondholders appealed the bankruptcy court’s approval of the plan, lifted the stay she had placed on the case in light of an appellate court’s decision on Friday.

In that case, the U.S. Court of Appeals...
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