Adelphia lender agent demands payment of $41 million in Olympus bank claims

By Caroline Salls

Pittsburgh, May 3 - Adelphia Communications Corp.'s lender agent Deutsche Bank Trust Co. Americas asked the U.S. Bankruptcy Court for the Southern District of New York to force the company to pay the $41 million in Olympus bank claims owed to Deutsche, according to a Wednesday court filing.

Deutsche Bank said Adelphia has refused to acknowledge the plan of reorganization's intent to treat it as a non-administrative agent under the plan in connection with its Olympus bank claims.

According to the motion, by failing to recognize Deutsche's proper classification, its bank claims were improperly reduced to $40.91 million from $41.14 million.

A hearing in scheduled for June 12.

Adelphia, a Greenwood Village, Colo.-based cable operator, emerged from bankruptcy on Feb. 13. Its Chapter 11 case number is 02-41729.

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