Hedge Fund Losses Laid At Adelphia's Feet

Law360, New York (March 24, 2006, 12:00 AM EST) -- Aggressively seeking restitution, hedge fund Appaloosa Investment Partnership has claimed that it lost hundreds of millions of dollars in the massive fraud scandal that rocked bankrupt cable provider Adelphia Communications Corp.

Appaloosa argued last week that its losses were triggered by a dramatic drop in the value of notes issued by Adelphia and its Arahova Communications Inc. unit, according to court papers filed in U.S. Bankruptcy Court in Manhattan.

Adelphia has been parked in Chapter 11 since 2002, after allegations of wrongdoing by members of the...
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