The Adelphia Recovery Trust announced that its Trustees have declared a distribution of $20 million in cash payable on or about December 8, 2015 to holders of interests in the Trust pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation. The Trust has established a record date for purposes of this distribution of December 1, 2015.
The Adelphia Recovery Trust is a Delaware Statutory Trust formed pursuant to Adelphia Communications’ U.S. Bankruptcy Court-confirmed and effective Plan. The Trust holds certain litigation claims transferred pursuant to the Plan against various third parties and exists to prosecute the causes of action transferred to it for the benefit of holders of Trust interests. Adelphia Communications filed for Chapter 11 protection on June 25, 2002, listing $22 billion in pre-petition assets.
This telecommunications’ provider emerged from bankruptcy in February 2007. Read more Adelphia bankruptcy news.