We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Adelphia Judge Approves Interest Payments

Law360 (April 28, 2006, 12:00 AM EDT) -- The federal bankruptcy judge overseeing Adelphia Communication’s Chapter 11 case streamlined the proceedings by approving $1.23 billion in interest payments to the Colorado-based cable company’s unsecured creditors on Thursday.

The ruling establishes a blanket interest rate to be paid to Adelphia’s unsecured creditors, whose various individually determined interest rates and procedures for dealing with past-due debt threatened to hamper the proceedings, according to a source close to the case.

This move by Judge Robert E. Gerber of New York’s Southern District Bankruptcy court will halt what...
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.