Metromedia Says $188M Ruling Forced Ch. 11 Filing

Law360, New York (June 18, 2009, 12:00 AM EDT) -- Telecommunications holding company Metromedia International Group Inc. has filed for bankruptcy protection, blaming what it said was a “debilitating” $188 million judgment entered against the company earlier in June stemming from a post-merger appraisal dispute.

Metromedia filed a Chapter 11 petition with the U.S. Bankruptcy Court for the District of Delaware on Thursday, describing both the company's assets and liabilities as falling between $100 million and $500 million.

Charlotte, N.C.-based Metromedia is an international company that now holds interests in several telecommunications providers in the Republic...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.