Adelphia seeks to eliminate $2T in claims
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February 3, 2005 Thursday 8:43 AM
Adelphia Communications is seeking to eliminate more than $2 trillion in bankruptcy claims the company says are primarily the result of duplication, according to a filing with the U.S. Securities and Exchange Commission on Thursday.
Greenwood Village, Colo.-based Adelphia said it was submitting its claims objection to a bankruptcy court in New York. An initial hearing is scheduled for March 8.
Adelphia, the nation's fifth-largest cable operator, went bankrupt in 2002 following an accounting scandal.
Shares of the company ended Thursday's session up a penny at 36 cents on the over-the-counter market.