Adelphia liquidating trust agreement

As such, they do not include all of the information and disclosures required by US GAAP for complete financial statements.

In the opinion of the Trustees, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the interim unaudited condensed financial statements have been included.

If the Bankruptcy Court grants the LIF Motion, the JV LIF may need to be replenished in an amount that satisfies all claims that have been submitted and returns the balance in the JV LIF to million..

In addition, the Bankruptcy Court could determine that the JV LIF must be replenished by the amount of the disputed JV LIF Claims while the dispute is still pending. The carrying value represents the original investment of .0 million, plus accrued interest of ,926 through September 30, 2010.

The settlement also will resolve the ART’s petition for writ of certiorari filed on October 22, 2010, which seeks review of the Second Circuit’s May 26, 2010 order affirming the District Court’s dismissal of certain of the ART’s bankruptcy claims.The settlement agreement was executed and effective as of October 25, 2010.The ART filed a motion to approve the settlement, which is scheduled to be heard by United States District Court Judge Lawrence M. If the settlement is approved, it will resolve all claims pending in the Bank Litigation, except the ART’s fraudulent conveyance claims against Goldman Sachs arising from Adelphia Communications Corporation’s pre-petition repayment of the Rigases’ personal margin loans.These condensed financial statements should be read in conjunction with the ART’s audited financial statements for the year ended December 31, 2009 included in its Form 10-K filed with the Securities and Exchange Commission (“ ”) on March 10, 2010.Interim results are not necessarily indicative of the results for the complete fiscal year.

Leave a Reply