Topics Mobile Tech News Thursday, April 25


Contact us

Site search:
complete archives list

Site Sponsors:

Don't forget AT&T and Verizon promo codes at to save money.

WorldCom Seeks Court Approval of Pact
Posted: 22-Jul-2002 [Source: Reuters]

[World Com files bankruptcy and looks to reorganization efforts in hopes of erasing 75% of its debt.]

by Jessica Hall, Philadlephia -- "A day after filing the world's largest corporate bankruptcy, WorldCom Inc. WCOME.O on Monday said it would seek court approval of $2 billion in funding to keep operating during a reorganization that, if successful, could erase more than 75 percent of its debt.

WorldCom, the No. 2 U.S. long-distance telephone and data services company, filed for Chapter 11 bankruptcy protection on Sunday, brought down by a $3.85 billion accounting scandal and a mountain of junk-rated debt. The bankruptcy does not include its international operations.

The company, which transmits half of the world's Internet traffic, plans to hire a restructuring expert to aid the current management team. It aims to emerge from Chapter 11 in about nine to 12 months with less than a quarter of its $30 billion debt load."


Back to Headlines...

Apple Watch Apple Watch

iPhone 6 and iPhone 6 Plus iPhone 6 and iPhone 6 Plus

Amazon Fire Amazon Fire

Samsung Z - Tizen Samsung Z - Tizen


HTC One mini 2 HTC One mini 2

OnePlus One OnePlus One

HTC One (M8) HTC One (M8)

Samsung Gear 2 Tizen Watch Samsung Gear 2 Tizen Watch

HP VoiceTab HP VoiceTab

T200 octa-core T200 octa-core

Nokia 2520 Tablet Nokia 2520 Tablet

Samsung Galaxy Round Samsung Galaxy Round

BlackBerry Z30 BlackBerry Z30

iPhone 5S and iPhone 5C iPhone 5S and iPhone 5C

Samsung Galaxy Mega Samsung Galaxy Mega

Sony SmartWatch 2 Sony SmartWatch 2

iOS 7 iOS 7

Jolla Jolla

BlackBerry Z10 BlackBerry Z10

Galaxy S 4 Galaxy S 4

Galaxy Note 8.0 Galaxy Note 8.0

Ubuntu on Tablets Ubuntu on Tablets

LG Optimus G Pro L-04E LG Optimus G Pro L-04E

Firefox OS Firefox OS

Sony Zperia Z Sony Zperia Z


Valid HTML 4.1!

RSS © 1999-2019 Traques LLC
All times recorded in UTC