WorldCom today filed additional bankruptcy petitions for 43 of its subsidiaries

November 11, 2002

1 Min Read

CLINTON, Miss. -- WorldCom, Inc. (Nasdaq: WCOEQ) today filed additional bankruptcy petitions for 43 of its subsidiaries, most of which were effectively inactive and none of which had significant debt. The petitions were filed with the U.S. Bankruptcy Court for the Southern District of New York. The company made the decision to file the additional entities in order to provide them with the same relief under Chapter 11 as its other businesses. "Today's filing is a formality," said John Dubel, chief financial officer of WorldCom. "We have asked the Court for permission to jointly administer these cases under the WorldCom petition. Today, like every day, it's business as usual for WorldCom and its subsidiaries." A court date has been set for November 12, 2002, to hear the company's request. WorldCom Inc.

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