Adelphia Recovery Trust Announces Full Resolution of Motorola Suit and Completion of Settlement.
WILMINGTON, Del. -- The Adelphia Recovery Trust (the "Trust") announced that the lawsuit entitled Adelphia Communications Corporation, et al. v. Motorola, Inc., et al., Adversary Case No. 06-01558-REG has been fully resolved pursuant to a settlement reached among all parties to the suit. The settlement was approved by United States Bankruptcy Judge Cecelia G. Morris on December 14, 2009, and payment to the Trust pursuant to the settlement was made on December 29, 2009. A copy of Judge Morris' order approving the settlement and describing its terms is available in the "Important Documents Adelphia Recovery Trust" section of Adelphia's website at www.adelphiarestructuring.com.
The Trust in its discretion may retain some or all of its settlement proceeds for funding its operations, including expenses incurred to maintain and administer the Trust and prosecute Trust litigation, all subject to the terms and conditions of the Plan and the Declaration of Trust. No decision has been made by the Trust as to the amount or timing of distributions, if any, to Trust interest holders.
The Trust in its discretion may retain some or all of its settlement proceeds for funding its operations, including expenses incurred to maintain and administer the Trust and prosecute Trust litigation, all subject to the terms and conditions of the Plan and the Declaration of Trust. No decision has been made by the Trust as to the amount or timing of distributions, if any, to Trust interest holders.
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