Adelphia Amends Reemergence Plans

Law360, New York (January 17, 2006, 12:00 AM EST) -- After being mired in a billion dollar accounting fraud scandal that forced it into Chapter 11 bankruptcy protection, Adelphia Communications is putting the finishing touches on a reemergence plan that includes the sale of most of its assets to competitors Time Warner and Comcast.

Adelphia recently amended its reemergence plan to reflect the addition of documents that relate to the $12.7 billion sale of Adelphia’s U.S. assets to Time Warner Cable.

The sale, approved by state authorities and now awaiting a federal green light, is expected...
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