Adelphia Submits Amended Reorganization Plan

Law360, New York (April 12, 2006, 12:00 AM EDT) -- Bankrupt Adelphia Communications Corp. has amended its reorganization plan yet again, in hopes that a new proposal will resolve the creditor conflicts that have long plagued the cable giant's Chapter 11 proceedings.

The modified plan, submitted on Wednesday, is intended to clear the way for Adelphia to sell off its assets to Comcast Corp. and Time Warner Inc. by July 31st, a deadline Adelphia spokesman Paul Jacobson said was crucial.

“The asset purchase agreements signed with Comcast and Time Warner called for the sale to be...
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