ACC Claims amends exchange offer for allowed claims against Adelphia

By Angela McDaniels

Tacoma, Wash., March 21 – ACC Claims Holdings, LLC amended its exchange offer in which eligible holders can receive limited liability company interests for their allowed senior note claims, trade claims and other unsecured claims against Adelphia Communications Corp., according to a company news release.

Eligible holders are invited to exchange

• Class A limited liability company interests of ACC Claims for up to all of the outstanding ACC senior notes claims (class ACC 3) allowed under the plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest to and including the expiration date of the offers, against Adelphia; and

• Class B limited liability company interests of ACC Claims for up to all of the outstanding ACC trade claims (class ACC 4) allowed under the plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest to and including the expiration date of the offers, and ACC other unsecured claims (Class ACC 5) allowed under the plan of reorganization, including any post-petition pre-effective date interest and post-effective date interest to and including the expiration date of the offers, against Adelphia.

The exchange offer began March 3. The expiration date, 5 p.m. ET on March 31, is unchanged.

Eligible holders of senior claims that are tendered by the expiration date and accepted for exchange will receive consideration in the form of class A limited liability company interests in ACC Claims.

Eligible holders of other Claims that are tendered by the expiration date and accepted for exchange will receive consideration in the form of class B limited liability company interests in ACC Claims.

The exchange offers are only being made to holders who are qualified purchasers as defined in Section 2(a)(51)(A) of the Investment Company Act of 1940, as amended, excluding Benefit Plan Investors.

The dealer manager is Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527). The information agent and exchange agent is D.F. King & Co., Inc. (800 761-6523 or 212 269-5550).

ACC Claims is a Delaware limited liability company formed on Nov. 18 for the purpose of liquidating the claims and distributing the proceeds to the holders of its limited liability company interests. Adelphia is a Greenwood Village, Colo.-based cable operator that emerged from bankruptcy Feb. 13, 2007.

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