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Adelphia Noteholders’ Motion To End Exclusivity Denied

Law360 (September 19, 2006, 12:00 AM EDT) -- A bankruptcy judge has shot down a group of Adelphia Communications Corp. noteholders who sought to end the company’s period of exclusivity for proposing a plan to pay creditors.

Judge Robert E. Gerber denied the group’s request to open the process to other parties involved in the bankruptcy, upholding Adelphia’s right to solicit creditor approval of its reorganization plan without having to compete with other proposals.

The company’s noteholders filed the motion to end the exclusivity period after objecting to Adelphia’s reorganization plan on the grounds...
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