Adelphia Bondholders' Appeal Keeps Plan On Hold

Law360 (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’...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.