Adelphia Trust seeks ruling

Adelphia Recovery Trust (ART) is asking the U.S. Bankruptcy Court to amend a recent ruling so that litigation proceeds will not be subject to Internal Revenue Service taxation at the trust level.

The motion also seeks Bankruptcy Court approval to deem ART distributions to interestholders with respect to a given class of ART interests as first allocated to the deficiency in that class, before being allocated to dividends accrued on that defi- ciency.

As set forth in more detail in the motion, the choice may potentially impact the recovery of the various classes. A copy of the complex legal motion is available at the website, adelphiarestructuring. com.

ART was formed in 2007 as part of bankruptcy process. It holds certain litigation claims against various third parties and exists to prosecute the causes of action for the benefit of holders of ART interests.