Adelphia Estate To Pay Comcast $9M

Law360, New York (November 27, 2007, 12:00 AM EST) -- Comcast Corp., which along with Time Warner Inc. agreed to purchase all the assets of bankrupt cable company Adelphia Communications Corp., will receive $9 million in cash from the Adelphia estate and will drop its remaining claims, according to a new court ruling.

On Monday, Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York granted a non-appealable order for cash payment in exchange for a waiver of the claims that Comcast would be permitted under Adelphia's reorganization plan, which...
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