Adelphia Communications’ four-and-a-half-year wait is over.
U.S. Bankruptcy Judge Robert Gerber, in a 267-page ruling, said the former MSO’s plan secured the approval of creditors that account for 84% of the claims it owed, clearing the way for the company to exit bankruptcy proceedings, AP reported.
Gerber said that while “confirmation of a plan is not just a popularity contest," Adelphia satisfied the requirements of the Bankruptcy Code.
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