According to finra, the record date for the distribution was 10/23/2020 at 00:00:00. I'm not entirely certain that those who bought on Friday are eligible for the distribution. I'm kinda fuzzy on how that works.
That said, there is no sign on finra that the shares will be cancelled. So, even if you don't get in on the distribution from ART, you should still be ok. The ART will be disolved next year after the ART files its taxes. However, Adelphia will still live on. It seems to me that the dissolution of the ART is will be the final act of the bankruptcy and Adelphia will immediately emerge as a clean shell with cash.
If Adelphia is unable to make the "rehabilitation transaction" occur and the company simply folds, then I suspect we could get a distribution of 10's of millions.
I wonder if the company could become a venture capital investment company, similar to SuRo Capital. If that happens, we could be looking at an uplist in a few years.
Now, this is all predicated on the idea that the shares won't be cancelled. It is typically the case that when a company emerges from bankruptcy that share are cancelled. However, the line from the 55th status report is "Since 2012, Adelphia has engaged legal counsel, investment bankers, and other advisors to explore the potential of effectuating a transaction ("Rehabilitation Transaction") with an unrelated third party to rehabilitate and create value for stakeholders." This suggests to me that at least one series will not be cancelled.
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