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...
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