Authority and currency
About this authority
- Publisher
- U.S. Securities and Exchange Commission
- Standing
- Primary authority
- Version
- Civil complaint
- Relevant parts
- Paragraphs 26-51; co-borrowing obligations, reclassifications, and disclosure allegations
- Currency
- current · checked Aug 7, 2026
Adelphia turns “off balance sheet” into a contract-reading problem. If an issuer remains jointly and severally liable, moving an amount to a related party's ledger does not extinguish the issuer's obligation. Legal exposure, ledger presentation, and footnote wording must be analyzed together.