Distribution Business Articles

After almost 4 years of bankruptcy, the courts have finally gotten to the bottom of things and will distribute $15 billion in cash and stock to creditors of Adelphia.  This follows the summer sale of most of Adelphia's most important cable assets.

The Adelphia bankruptcy is the 11th largest in US history and replete with owners transactions that resulted in off balance sheet loans that could not be repaid.

John Rigas was convicted of fraud in 2004 following the 2002 notice that the company was going down in financial scandal flames.  Timothy Rigas, the former finance chief, was also convicted but both men are free pending appeal of their sentences.

The wind up of the bankruptcy is likely to trigger a final wind down of the company as well ending a dark era in this company but not the end of corporate malfeasance or off balance sheet activity that proves very difficult even today for investors to stay on  top of as a result of the extra prominent holes in Sorbanes Oxley legislation that has little if any clout against corporations held outside the United States as so many multi national conglomerates are held these days.