Adelphia, FPL Closing Arguments Spar Over Valuation

Law360, New York (July 25, 2012, 9:15 PM EDT) -- Adelphia Communications Corp. and FPL Group Inc. presented closing arguments Wednesday following a four-day trial in Adelphia's bid to recover $149 million it paid to buy back stock before going bankrupt, with the debtor rehashing its stance that the stock was worthless.

Adelphia's argument before U.S. Bankruptcy Judge Robert E. Gerber in New York essentially revolved around two lines in its June 22 post-trial brief that are central to its case, which accuses FPL of receiving fraudulent transfers prior to its 2002 bankruptcy filing that are...
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.