Adelphia liquidating trust agreement

Posted by / 14-Sep-2020 17:38

Adelphia liquidating trust agreement

The LIF created under the JV Plan (the “JV LIF”), established in the initial amount of million and held in an Adelphia account pending distributions as authorized by the ART, was created to fund certain allowable claims for indemnification arising under the Parnassos and Century-TCI prepetition credit facilities.

See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.The FPL action seeks to recover an alleged fraudulent transfer arising out of Adelphia’s repurchase of certain of its stock from FPL in January 1999 for 9.5 million.Pursuant to the main Plan, the claims asserted in the FPL Litigation were transferred to the ART.Except as set forth below, there have been no material developments in the legal proceedings described in the ART’s Form 10-K as filed on March 4, 2011 or as updated in the ART’s Form 10-Q filed on May 13, 2011.Goldman Sachs (“Goldman”) moved for summary judgment on March 2, 2010.

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Adelphia and the ART asserted that the JV LIF claims are improper.

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