Adelphia Says Rigas Family Owes $3.23 Bln
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Adelphia Communications Corp.  ADELQ.PK asked a U.S. bankruptcy court to order its founding  Rigas family to pay back $3.23 billion it says the family owes  the company, court papers show.
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An appeals court on Thursday upheld the criminal convictions of Adelphia Communications Corp. founder John Rigas and his son Timothy, who both face lengthy prison terms for concealing loans and stealing millions from the cable operator.
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Marsh &amp; McLennan Companies Inc. is moving to collect about $230 million in controversial contingent commissions owed by insurers and will put the money toward a settlement with the New York Attorney General Eliot Spitzer.
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Cable operator Adelphia Communications  Corp. ADELQ.PK on Thursday reported billions of dollars in  losses over a three-year period in its first annual audited  financial statements since 2000, a step seen as key to its  emergence from bankruptcy and toward a potential sale.
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Bond insurer Ambac Financial Group Inc on Tuesday reported a quarterly loss of $3.3 billion after recording massive credit derivative write-downs and setting aside more money for credit losses.
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A federal bankruptcy judge appointed a Chapter 11 trustee Wednesday for AmeriDebt, the credit-counseling company that now faces a $15 million claim from the Internal Revenue Service over its disputed status as a nonprofit.
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Richard C. Breeden has been hired to oversee the payment of millions to investors defrauded by Adelphia Communications.
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Anglo-Swiss miner Xstrata Plc  on Monday offered A$3.1 billion ($2.8 billion) for Australian nickel miner Jubilee Mines NL , seeking to consolidate its position as a global nickel producer.
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Russia's justice ministry said that Yukos had paid three-quarters of its 2000 tax bill but still had billions more in outstanding debts that analysts said would require sales of its assets.
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WASHINGTON -- Adelphia Communications has offered $300 million to resolve investigations by the Securities and Exchange Commission and the Justice Department, the company said.
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Xstrata Plc  said it has agreed to pay A$3.1 billion ($2.8 billion) for Australian nickel miner Jubilee Mines Ltd , seeking to consolidate its position as a leading nickel producer.
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Cable operator Adelphia Communications  Corp. ADELQ.PK on Thursday reported billions of dollars in  losses over a three-year period in its first audited financial  statements since 2000, a step seen as key to its emergence from  bankruptcy and potential sale.
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Adelphia Communications, the US cable network operator which filed for bankruptcy court protection in June 2002, filed audited financial results for 2001, 2002 and 2003 yesterday and said its loss narrowed to $832.6m last year.
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Marsh and McLennan is looking to collect about $230 million in incentive fees at the heart of a bid-rigging probe. The company says it will put the fees into a separate account to be used as
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British pharmaceutical group GlaxoSmithKline said it had agreed to pay the US Treasury about 3.1 billion dollars (2.44 billion euros) after settling out of court a long-running tax dispute.
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By Reuters. Adelphia Communications Corporation, the cable television provider, restated financial results for three years yesterday as part of its effort to emerge from Chapter 11 bankruptcy protection or sell its assets.
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Diageo, the world's biggest spirits company, is selling most of its 20% stake in US food company General Mills to ease its Â£4.5bn ($8bn) debt burden.