Adelphia Creditors Press For Chapter 7 Conversion

Law360, New York (August 28, 2006, 12:00 AM EDT) -- A group of Adelphia Communications Corp. creditors have asked a judge to liquidate the bankrupt cable company in order to get paid.

In court documents filed Friday with the U.S. Bankruptcy Court in Manhattan, Wachovia Corp., Bank of America N.A., PNC Bank, Calyon and others said that converting the case to Chapter 7 would be a quicker and more cost effective alternative to a reorganization plan.

“There is, if there ever was, no just cause for continued delay to the distribution of cash to [Adelphia’s] creditors,”...
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