Adelphia extends bankruptcy approval date
EmptyNEW YORK - Bankrupt cable operator Adelphia Communications Corp. said Friday its creditors had agreed to extend the deadline for the effective date of its reorganization plan by a week to Jan.19.
The company said the official committee of unsecured creditors informed it that the settlement parties had decided to extend the deadline.
The plan was given approval by the bankruptcy court judge on Jan. 5.
The decision further slightly delays the public listing of the cable operator Time Warner Cable.
Adelphia is partially using a 16% stake in Time Warner Cable worth nearly $6 billion to pay its creditors as part of a 2005 deal for Adelphia's cable assets.