Adelphia Communications Corporation Announces Distribution
GREENWOOD VILLAGE, Colo., Dec. 3, 2020 /PRNewswire/ -- Adelphia Communications Corporation ("ACC") announced today a subsequent distribution of $43.5 million in cash payable on or about December 17, 2020to holders of Allowed Claims against the parent Adelphia Communications Corporation pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, dated as of January 3, 2007, as Confirmed (the "Plan").
- GREENWOOD VILLAGE, Colo., Dec. 3, 2020 /PRNewswire/ -- Adelphia Communications Corporation ("ACC") announced today a subsequent distribution of $43.5 million in cash payable on or about December 17, 2020to holders of Allowed Claims against the parent Adelphia Communications Corporation pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, dated as of January 3, 2007, as Confirmed (the "Plan").
- ACC has established a Record Date for purposes of this distribution of December 10, 2020.
- Adelphia Communications Corporation continues under the management of Development Specialists, Inc., the Plan Administrator, to liquidate its assets and administer its plan of reorganization.
- Prior to the sale of substantially all of the consolidated assets of Adelphia to Time Warner NY Cable LLC and Comcast Corporation on July 31, 2006, Adelphia Communications Corporation was the fifth largest cable television company in the country.