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Adelphia seeks to eliminate $2T in claims

Thu, 02/03/2005 - 7:00pm
Carolyn Pritchard

Copyright 2005 MarketWatch.com Inc., All Rights Reserved

CBS MarketWatch

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.

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