Briefs

Adelphia CLEC Plan Approved

New York – A U.S. Bankruptcy Court judge approved a $1.9 billion settlement agreement between Adelphia Communications Corp. and its former competitive local exchange carrier subsidiary that will allow the CLEC to emerge from bankruptcy more quickly.

Judge Robert Gerber approved the plan between Adelphia and Adelphia Business Solutions Inc. (doing business as TelCove Inc.) on March 23. The plan calls for Adelphia to transfer about $62 million in cash to Adelphia Business and will move some CLEC markets to the company.

Adelphia also agreed to purchase up to $39 million in services from Adelphia Business over the next five years.

Adelphia Business will drop over $1 billion in claims against the MSO, and Adelphia Communications will drop a $842 million lawsuit against the CLEC.

This positions Adelphia Business to emerge from bankruptcy with new owners. According to documents, Bay Harbour Management LLC — which owned Adelphia bonds — will own half of the equity in the company. Other unsecured creditors will own the other half of the company, but have the option of choosing either cash or stock.

Rogers Hires Adams as COO

Toronto — Rogers Cable Inc. said it has appointed Michael Adams as executive vice president and chief operating officer, effective April 20.

Adams has 20 years experience in the cable and competitive local-exchange carrier industries, and will assume responsibility for engineering, network operations, customer operations, information technology, and implementation of Rogers Cable's local telephony initiative.

Adams had been with RCN Corp. since 1997, serving in a number of senior executive capacities responsible for operations, networks, technology, and strategy.