(Reuters) NEW YORK - A bankruptcy judge on Friday approved a $715 million settlement between Adelphia Communications Corp. and the U.S. government, ruling against objections by some creditors of the bankrupt cable operator.

After agreeing on a deal that will compensate investors who lost money in the company's collapse, Adelphia and the government were able to settle on common terms last month. The result is one of the largest settlement payouts ever by an American corporation and will allow Adelphia to avoid criminal prosecution on charges of accounting fraud.

Read Full Story

Facebook
Google+
https://blog.lawinfo.com/2005/05/20/us-bankruptcy-judge-approves-adelphias-settlement
Twitter