A U.S. bankruptcy judge has approved a $167.5 million settlement that Deloitte & Touche has agreed to pay to a trust set up by litigants for defunct cable television company Adelphia Communications. D&T and the Adelphia Recovery Trust agreed to the settlement, though Adelphia and Deloitte have been filing a series of claims against each other, with Adelphia accusing Deloitte of malpractice in its audits of the bankrupt company. The settlement doesn't cover the trust's claims against Adelphia's former lenders.
Search Accounting Today
Follow Accounting Today