Adelphia Communications, Adelphia Business global settlement approved by court

By Jeff Pines

Washington, March 23 - Adelphia Communications Corp. and Adelphia Business Solutions, Inc. received bankruptcy court approval for their global settlement agreement and master agreement.

Adelphia Communications was the parent of Adelphia Business but the two companies never clearly designated who owned what assets.

Adelphia Communications spun off Adelphia Business in 2002. When the two companies filed for Chapter 11, they were forced to start sorting out the ownership issue.

Adelphia Communications filed for Chapter 11 with the U.S. Bankruptcy Court for the District of Southern New York on June 25, 2002. Its Chapter 11 case number is 02-41729.

Adelphia Business' Chapter 11 case number is 02-11389.

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