Adelphia Chapter 11 plan to be sent to creditors

Empty

Adelphia Communications has edged closer to ending its four-year bankruptcy process, as a judge on Tuesday approved sending the cable company's Chapter 11 reorganization plan to creditors for approval. Judge Robert Gerber of the U.S. Bankruptcy Court in Manhattan set a Nov. 27 deadline for creditors to accept or reject the plan, with a confirmation hearing scheduled for Dec. 7. The plan has been held back by disputes between creditors. Adelphia's latest plan is a joint effort with the company's official committee of unsecured creditors. (
comments powered by Disqus