Adelphia Bondholders Come Up Short Again

Law360, New York (April 4, 2007, 12:00 AM EDT) -- A federal judge has dashed the hopes of Adelphia Communications Corp.’s bondholders, who had been seeking to challenge the cable provider’s reorganization plan in order to score an additional $250 million payout.

On Monday, U.S. District Judge Shira Scheindlin threw out the bondholder appeal, refusing to rule on the merits of the case, in part because the plan had already been “substantially consummated.”

“I conclude that this appeal must be dismissed on equitable mootness grounds,” the opinion read.

The bondholders hold $1.1 billion in Adelphia notes...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.