Grant Gross
Senior Writer

MCI files for bankruptcy extension

news
Feb 11, 20041 min

Carrier wants more time to complete SEC filings

MCI has asked a U.S. bankruptcy judge for a 60-day extension to the Feb. 28 deadline for the company to emerge from bankruptcy, the company announced Wednesday.

An extension to the deadline, mutually agreed to by the company and the U.S. Bankruptcy Court for the Southern District of New York, would give MCI time to complete financial filings with the U.S. Securities and Exchange Commission (SEC). The financial filings are the last major task left for MCI to emerge from bankruptcy, according to the company.

“We have made incredible progress on the reconstruction of our financial statements, but it is much more important for us to get them done correctly rather than quickly,” Bob Blakely, MCI executive vice president and chief financial officer, said in a statement.

MCI, still officially known by its prebankruptcy name WorldCom Inc., has resolved its accounting statements for 2002 and is nearly ready to file that paperwork with the SEC, Blakely said. The company is working on its 2003 SEC filings.

MCI filed for bankruptcy in July 2002, about a month after the company disclosed that a group of former employees had altered accounting records to conceal losses and inflate earnings.

Grant Gross

Grant Gross, a senior writer at CIO, is a long-time IT journalist who has focused on AI, enterprise technology, and tech policy. He previously served as Washington, D.C., correspondent and later senior editor at IDG News Service. Earlier in his career, he was managing editor at Linux.com and news editor at tech careers site Techies.com. As a tech policy expert, he has appeared on C-SPAN and the giant NTN24 Spanish-language cable news network. In the distant past, he worked as a reporter and editor at newspapers in Minnesota and the Dakotas. A finalist for Best Range of Work by a Single Author for both the Eddie Awards and the Neal Awards, Grant was recently recognized with an ASBPE Regional Silver award for his article “Agentic AI: Decisive, operational AI arrives in business.”

More from this author