WorldCom Reaches Settlement To Avoid Appeal

Law360 (January 3, 2008, 12:00 AM EST) -- WorldCom has reached an agreement with a group of claimants in its bankruptcy case, allowing the defunct telecommunications company to avoid a lengthy district court appeal as it continues to tie up the loose ends of its long-standing Chapter 11 case.

On Wednesday, WorldCom and the claimants filed a joint motion with the U.S. Bankruptcy Court for the Southern District of New York, revealing that they had “reached an agreement in principle” to settle their claims dispute.

The claimants, called the “Abbott Claimants” in court documents,...
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