Adelphia’s Long Stay In Ch. 11 Draws To A Close

Law360, New York (February 15, 2007, 12:00 AM EST) -- After four years marked by heated debates and an avalanche of litigation, Adelphia Communications Corp. has emerged from Chapter 11 bankruptcy protection.

The company began paying off claims on Feb. 13, a process that includes the distribution of shares of common stock in Time Warner Cable, a company formed after Time Warner purchased the bulk of Adelphia’s assets.

Adelphia’s reorganization plan earmarks 15.96% of TWC’s shares for its creditors.

The cable provider’s fifth amended reorganization plan received court approval on Feb. 12, after U.S. District Court...
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