Adelphia Noteholders Denounce Proposal

Law360, New York (April 19, 2006, 12:00 AM EDT) -- A proposal by bankrupt cable company Adelphia that may have ended the infighting between two groups of its creditors has been denounced by one of the groups, dashing the company’s hopes for a swift resolution of the squabble.

For the past two years, the cable provider has been trying to negotiate a deal between noteholders of its Arahova Communications Corp. and noteholders of the parent company.

Last week, Adelphia proposed a plan that would give Arahova noteholders $1.04 for every $1 of notes they hold, while...
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