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Adelphia Bondholders Protest $1.3B Bond Demand

Law360 (January 29, 2007, 12:00 AM EST) -- The bondholders of Adelphia Communications Corp. have asked a federal appeals court to overturn a decision that would require them to post a $1.3 billion bond in exchange for a review of the cable provider's bankruptcy case.

On Thursday, the bondholders asked the U.S. Court of Appeals for the Second Circuit to reverse part of a ruling handed down by U.S. District Judge Shira A. Scheindlin.

Last week, Judge Scheindlin granted the bondholders’ request for a stay in the case after the group argued that the...
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