Appaloosa: An Emerging Bankrupcty Force

Law360, New York (March 27, 2006, 12:00 AM EST) -- In a winter dominated by big bankruptcies by auto suppliers such as Delphi Corp. and Dana Corp., one name seems to keep popping up over and over as Chapter 11 proceedings begin to unfold: Appaloosa Management LLC.

Whether fighting for an equity committee in the Delphi case or accusing bankrupt cable provider Adelphia Communications Corp. of costing it millions, the hedge fund is both actively and aggressively pursuing its interests in bankrupt companies.

David Tepper, a former top executive at Goldman Sachs, runs the $3 billion...
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