Adelphia Bondholders' Appeal Keeps Plan On Hold

Law360, New York (February 6, 2007, 12:00 AM EST) -- Adelphia Communications Corp.’s bondholders appeared before an appellate court Tuesday to appeal a district court’s decision that would require them to post a $1.3 billion bond in exchange for a review of the cable provider's bankruptcy case.

In a hearing before the U.S. Court of Appeals for the Second Circuit, lawyers for the bondholders reportedly argued that the bond required by U.S. District Court judge Shira A. Scheindlin to offset any harm to Adelphia and the other creditors was too high.

Judge Scheindlin granted the bondholders’...
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