Adelphia Lenders Win Bid To Toss $4B In Claims

Law360, New York (June 19, 2008, 12:00 AM EDT) -- Hundreds of banks that are accused of playing a role in the collapse of Adelphia Communications Corp. have prevailed in their efforts to strike more than $4 billion in claims in a lawsuit brought by the company's creditors.

Judge Lawrence McKenna, of the U.S, District Court for the Southern District of New York, granted the lenders' dismissal motion Wednesday to toss the bankruptcy claims from the case.

The cable company's creditors, represented by the Adelphia Recovery Trust, are accusing 380 commercial and investment banks — including...
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