Could resolve one of hurdles telco faces MCI appears to have reached an agreement with its creditors that could resolve one of the major hurdles the telecommunication company faces in emerging from bankruptcy, according to a report in The Wall Street Journal (WSJ) online edition Tuesday.Judge Arthur Gonzaleza of the U.S. Bankruptcy Court for the Southern District of New York on Monday suspended a hearing on MCI’s eligibility to be released from bankruptcy in order to allow MCI and its creditors time to negotiate a final settlement. The judge imposed a deadline of 12:01 a.m. Eastern time.Talks are continuing through the night in New York on the details of a deal that was reached in principal between MCI (still legally known as WorldCom Inc.) and its creditors just prior to the deadline, the WSJ said citing sources familiar with the situation. Though the deal could still fall apart before daylight, the two sides are hoping terms for the final settlement can be announced later in the day, the WSJ said. Officials from MCI in both the U.S. and Europe were unable to comment immediately on the deal.MCI, of Ashburn, Virginia, filed for bankruptcy court protection in July 2002 after admitting it had overstated its financial statements by $11 billion. Technology Industry