Adelphia gets OK to pay interest to creditors (1 Viewer)

cablewithaview

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Apr 18, 2005
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Adelphia Communications Corp., the bankrupt cable operator, won court approval to pay $1.23 billion in interest to unsecured creditors under its proposed plan to exit bankruptcy.

U.S. Bankruptcy Judge Robert Gerber in New York said the interest payments were fair and appropriate for creditors who
have waited to get paid since Adelphia filed for bankruptcy in June 2002. Several creditor groups opposed Adelphia’s proposal, arguing the company was either paying too much or too little.

The interest will be paid provided Gerber approves the company’s plan to exit bankruptcy. The centerpiece of the plan
is Greenwood Village, Colorado-based Adelphia’s proposed $17.6 billion asset sale to Time Warner Inc. and Comcast Corp.

http://www.rockymountainnews.com/drmn/tech/article/0,2777,DRMN_23910_4655350,00.html
 

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