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GlobalX Extends Auction Date

Global Crossing pushes back the date of the auction to determine the successful bidder from July 31 to August 2

July 31, 2002

1 Min Read

MADISON, N.J. -- Global Crossing today announced that, in accordance with the bidding procedures order originally approved by the United States Bankruptcy Court for the Southern District of New York, it has moved the date of the auction to determine the successful bidder from July 31, 2002 to August 2, 2002. The auction will take place atthe offices of Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York,New York 10153 at 10:00 a.m. EDT. The auction hearing is still scheduled for August 7, 2002."We are extending the auction in order to give the parties more time to finalize and compare the competing investment proposals," said John Legere, chief executive officer of Global Crossing.Global Crossing Holdings Ltd.

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