Bankruptcy of Worldcom

A fraternity with pluss of $ 107 billion requested protection from creditors The U.S. guild WorldCom, admitted himself bankrupt, broke the sad records of orbiculate Crossing and Enron. The second-largest U.S. phone cyberspace operator with assets of $ 107 billion has f anyen victim to rampant megalomania of their managers, and story innovation of financiers. In terms of volume of announced asset is the largest loser in world history, and the two previous records - Global Crossing and Enron - were delivered this year. Enron at the time of the bankruptcy assets estimated at $ 63.4 billion, and WorldCom - the $ 107 billion, however, analysts view that after the revaluation of assets WorldCom could fall in price to $ 15 billion corporations debts total $ 41 billion and annual revenues - $ 35 billion On Sunday night the Board of Directors WorldCom admitted that the society has no more money, and unanimously voted to conduct bankruptcy under(a) Article 11 of the Bankruptcy Law that protects the bankrupt company from creditors and allow to restructure. The leaders of WorldCom assure customers that the company leave alone progress to function normally. But many in the U.S. worry that bankruptcy could lead to unpredictable consequences on the telecommunications market.

Voice services and info provided by WorldCom, used by about 20 one thousand million individuals and thousands of corporations. Through the companys network goes up to 50% of all Internet traffic in the United States. John Sidzhmor, who guide WorldCom after the dismissal of a discredited founder Bernard Ebbers the company, verbalize yesterday that it plans to complete the restructuring of over 9 - 12 months, and not having to sell core assets. If you straighten your companys balance sheet, it is, analysts say, will be very attractive to potential buyers, particularly for operators of topical anesthetic telephone service. According Sidzhmora, some companies are interested in buying WorldCom, has hired investment banking... If you want to get a full essay, order it on our website: Orderessay

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