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Judge green-lights MCI bankruptcy emergence.

Publication: Mississippi Business Journal
Publication Date: 21-JUL-03
Format: Online - approximately 594 words
Delivery: Immediate Online Access

Article Excerpt
A federal judge made history earlier this month when he approved MCI's record $750-million settlement of civil fraud charges brought by the U.S.. Securities and Exchange Commission (SEC) and removed an obstacle to the company's emergence from Chapter 11 bankruptcy protection.

In U.S. District Judge Jed S. Rakoff 14-page ruling, he said that giving the company the death penalty was in nobody's best interest and would unfairly penalize its employees. He also said he believed it would help the company back onto the road of good corporate citizenship...

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