Judge Greenlights Adelphia’s Chapter 11 Plan

Law360 (January 3, 2007, 12:00 AM EST) -- After languishing for nearly five years in bankruptcy, Adelphia Communications Corp. is finally set to emerge from Chapter 11 now that a judge has signaled his intention to approve the company’s reorganization plan.

On Wednesday, U.S. Bankruptcy Judge Robert Gerber endorsed the proposal, pointing out the cable provider had won approval from an overwhelming majority of creditors.

Though the group represents approximately 84% of the claims owed, Judge Gerber was quick to point out that he did not base his decision on this statistic alone....
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