WILMINGTON, Del., March 14 /PRNewswire/ -- The Adelphia Recovery Trust
("ART") announced today that it intends to apply for an automatic six-month
extension for filing its 2007 Federal income tax return. With the
extension, the ART's 2007 Federal income tax return is expected to be filed
on or before October 15, 2008.
The ART Declaration of Trust and the Adelphia Plan of Reorganization
require the ART to provide annual Federal income tax information to holders
of beneficial interests in the ART. The ART intends to provide these
holders with information for the 2007 tax year when it has finalized its
own Federal income tax return. Holders may direct questions to
creditor.inquiries@adelphia.com. However, the ART does not intend to and
will not provide tax advice to holders. The ART strongly encourages holders
to consult their own tax advisors.
About Adelphia Recovery Trust
Adelphia Recovery Trust is a Delaware Statutory Trust that was formed
pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of
Reorganization of Adelphia Communications Corporation and Certain
Affiliated Debtors, which became effective February 13, 2007. The ART holds
certain litigation claims transferred pursuant to the Plan against various
third parties and exists to prosecute the causes of action transferred to
it for the benefit of holders of ART interests.
Forward-Looking Statements
This press release contains forward-looking statements. All statements
(other than statements of historical fact) contained in this release,
including statements that address future plans, goals, expectations,
activities, events or developments, are forward-looking statements. We have
tried, where possible, to use words such as "anticipate," "if," "believe,"
"plan," "estimate," "expect," "intend," "forecast," "initiative,"
"objective," "goal," "project," "outlook," "priorities," "target,"
"evaluate," "pursue," "seek," "potential," "continue," "designed,"
"impact," "may," "would," "could," "should," "will" and other similar
expressions to identify forward- looking statements. Forward-looking
statements are based on current expectations and are subject to substantial
risks, uncertainties and other factors, many of which are beyond our
control. We cannot guarantee that any forward-looking statement will be
realized, as actual results may differ materially from those identified or
implied in any forward-looking statement. Among the factors that may cause
actual results to differ materially are the following: changes in or
interpretations of laws, regulations and policies; and the tax effects of
various aspects of the Plan and the Trust. All forward-looking statements
speak only as of the date they were made. The Trust does not undertake a
duty to publicly update or revise such forward- looking statements or other
information contained herein, whether as a result of new information,
subsequent events, circumstances, changes in expectations or otherwise.
SOURCE Adelphia Recovery Trust
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