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Plan Slows Infighting Among Adelphia’s Creditors

Law360 (July 25, 2006, 12:00 AM EDT) -- Adelphia Communications Corp. announced Monday the framework of a new reorganization plan that should help it finally emerge from bankruptcy protection by the end of this year.

Unlike previous reorganization plans, this one has the approval of most of the major bondholders and trade creditors, who previously fought bitterly with the cable company and with each other over billions of dollars in claims.

“We’re pleased that after lengthy negotiations a significant majority of our unsecured creditors are satisfied with the outcome and supportive of this settlement,”...
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