There have been many famous instances of corporate malfeasance and fraud which have endured through the years simply by invoking the name of the company involved: Enron, Worldcom, and of course, Adelphia. The Adelphia legal scandal became prominent in the media due to the fact that a father and son were both directly involved in a fraud which ended up in estimated losses of billions of dollars and over one hundred million dollars stolen and embezzled. Founder and CEO of the Pennsylvania cable television provider John Rigas and his son Timothy Rigas were indicted and found guilty in 2006 and are currently serving prison terms for their involvement in and orchestration of financial fraud. Numerous creditors and shareholders sued Adelphia shortly after it abruptly filed for bankruptcy in 2002 but no one could officially settle the debts. However, Buchanan Ingersoll & Rooney, a law firm based in Pennsylvania who is representing the entity that was once known as Adelphia Communications Corporation, has agreed to pay sixty million dollars to settle claims set forth by the bankruptcy proceedings of the company.

Many different various groups and individuals have brought a myriad of suits against Adelphia due to both their 2.3 billion dollar bankruptcy debts as well as suits aimed at the company for securities fraud but Buchanan Ingersoll hopes to settle those via a trust known as the Adelphia Recovery Trust. The law firm will be investing an initial twenty million dollars into the trust with the hopes of paying off at least forty million dollars worth of owed debt to various creditors. The settlement process is not entirely complete however as it will need approval from Bankruptcy Judge Robert Gerber. Although the financial wrongs perpetrated by members of the Rigas on behalf of Adelphia may never fully be reimbursed, Buchanan Ingersoll hopes to at least attempt to make things right with the Adelphia Recovery Trust.

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