Adelphia Wants Rigases to Repay $3.2 Billion
From Dow Jones/Associated Press
Adelphia Communications Corp. said the founding Rigas family owed the company more than $3.2 billion in appropriated funds, and the cable provider wants it back.
Court papers filed Friday by an Adelphia lawyer say John Rigas, his sons and the private firms they started are responsible for paying back loans they took from the cable provider.
Greenwood Village, Colo.-based Adelphia also wants the court to create a trust that would confiscate any money or property, including cable systems, that the Rigases obtained from the use of Adelphia funds or credits, to make them property of the company’s estate.
