Adelphia Creditors Told To Revise Claims V. Goldman

Law360, New York (June 17, 2009, 12:00 AM EDT) -- As dozens of banks face fraud claims from creditors of Adelphia Communications Corp. over their hand in the company's demise, Goldman Sachs & Co. has convinced a federal court to have creditors revise their claims on payments Goldman received from Adelphia.

Urged to reconsider a May decision upholding allegations the banks intentionally structured ruinous co-borrowing facilities for Adelphia, Judge Lawrence McKenna of the U.S. District Court for the Southern District of New York on Monday did so.

Cooperatieve Centrale Raiffeisen-Boerenlennbank BA, or Rabobank’s, bid fared worse,...
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