#United States #cash distribution #Chapter 11 #Adelphia Communications #Coudersport

Adelphia Communications Corporation Cash Distribution Announcement

Adelphia Communications Corporation (ACC) recently made a significant announcement regarding a cash distribution aimed at holders of Allowed Claims against the parent company. This distribution, which totals $16.4 million, is scheduled to be payable around July 23, 2025. This distribution comes as part of the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization to guide the company's restructuring process.

Details of the Distribution

According to the official communication, all stakeholders must note that the record date for this distribution has been set for July 17, 2025. Individuals wishing to claim their share should refer to the comprehensive details available on the company’s website under the Important Documents section. Furthermore, this announcement comes with a caveat, as the mentioned chart of distributions may not represent additional payouts that could be released in the future. These future distributions depend on numerous factors, including the release of reserves and other conditions that may affect the process.

Background of the Corporation

As one of the most significant names in the cable television industry, Adelphia was recognized as the fifth-largest cable company in the United States prior to its asset liquidation in 2006, which saw its assets sold to Time Warner and Comcast. The company provided a vast array of services, including analog and digital video services alongside high-speed internet, catering to clients across 31 states. Currently, under the supervision of Development Specialists, Inc., the company is in the phases of administering its assets and continuing the reorganization plan put forth in 2007.

Importance of the Announcement

This announcement is critical for claim holders, as it represents a significant step in the financial recovery process for many. The scheduled cash distribution offers a glimmer of hope to creditors who have been waiting since the company's Chapter 11 filing. This move is perceived as a pivotal point in settling outstanding claims while reflecting the corporation's ongoing management attempts to navigate the complexities of its reorganization plan.

The cash distribution is a part of what was outlined in a broader strategy laid out in 2007, and it highlights the company’s effort to remain transparent with its stakeholders during a challenging period.

Potential Variances in Distribution

Critically, the timing and amount of future distributions may fluctuate based on ongoing conditions that could arise during the administration of the plan. As reiterated in the release, several factors, including tax positions and litigation impacts, could sway the expected outcomes. For this reason, ACC has emphasized that all predictions around distributions remain intrinsically uncertain, and stakeholders should remain informed about updates.

To inquire about specific details related to this cash distribution, creditors are encouraged to reach out via the specified communication channels provided by the company.

As ACC continues its journey toward stabilization and recovery, this cash distribution marks a hopeful sign for affected claim holders, as they align with the long-awaited promises made during the initial phases of the company’s restructuring plan. It is a reminder of the persistent challenges faced and the ongoing efforts to reshape the financial foundations of a previously major player in the telecommunications sector.

For further information and details regarding this announcement, stakeholders can access the official channel or contact the provided media contacts for direct inquiries.