May 07, 2014
A New York bankruptcy judge found Tuesday that defunct cable company Adelphia Communications Corp. was indeed solvent at the time of a 1999 stock buyback from energy holdings firm FPL Group Inc., and that the creditors’ recovery trust thus can’t claw back the $149 million from the transaction.
July 25, 2012
Adelphia Communications Corp. and FPL Group Inc. presented closing arguments Wednesday following a four-day trial in Adelphia's bid to recover $149 million it paid to buy back stock before going bankrupt, with the debtor rehashing its stance that the stock was worthless.
June 27, 2012
Buchanan Ingersoll & Rooney PC has agreed to pay $60 million to settle claims surrounding its representation of Adelphia Communications Corp. before the company filed for Chapter 11 protection, according to documents filed in New York bankruptcy court Wednesday.