Judge Puts Adelphia Plan On Freeze
U.S. District Judge Shira Scheindlin granted the group’s request for a stay. The bondholders argue the bankruptcy judge was wrong to confirm Adelphia’s reorganization plan.
Judge Scheindlin also will require the bondholders to post a $1.3 billion bond to offset any harm to Adelphia and the creditors in case the stay would diminish the value of the bankruptcy estate....
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