Adelphia Fights Creditors For Control of Assets

Law360, New York (June 15, 2006, 12:00 AM EDT) -- Three weeks after Adelphia Communication Corp. vowed to sell its assets to Time Warner Inc. and Comcast Corp., the bankrupt company’s unsecured creditors are lashing out against the plan for fear it will lesson their debt recovery.

The cable provider, which serves customers in 31 states, has been looking to sell its assets to Time Warner and Comcast since last year as part of its reorganization plan. But creditor infighting and a since-dismissed antitrust suit against Time Warner and Comcast have delayed the issue.

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