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.
Deloitte and the Adelphia Recovery Trust agreed to the settlement earlier this month. Judge Robert Gerber approved it without conducting a formal hearing.
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 does not cover the trust’s claims against Adelphia’s former lenders. The trust said that it would continue to pursue the claims.
