ABIZ May Be Adelphia’s Next Creditor - Multichannel

ABIZ May Be Adelphia’s Next Creditor

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Another wrinkle may soon be added to the complex Adelphia Communications Corp. bankruptcy proceeding, as creditors for one of the MSO’s spinoff companies, Adelphia Business Solutions Inc., may seek to be added to the cable operator’s list of creditors, officials confirmed.

If Adelphia Business -- which just filed an amended reorganization plan for its own bankruptcy -- enters the picture against the cable operator, that could add an additional $1 billion in obligations to the MSO.

"We have a good relationship with our creditors," an Adelphia Business spokesman said. "We believe our creditors suffered harm from Adelphia, and we hope we’re able to redress those harms."

At least one programmer expressed concern about Adelphia Business creditors filing claims against Adelphia Communications, worried that cable networks will be pushed further down the list in terms of collecting what’s owed to them.

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