February 14, 2003
The Bankruptcy Court approved the retention of Kelley Drye as special counsel to the Official Committee of Unsecured Creditors of WorldCom, Inc. The Firm will represent the Creditors’ Committee on matters where existing counsel is conflicted. To date, Kelley Drye has advised the Creditors’ Committee on a significant real estate sale and lease transaction and settlement of a dispute concerning telecommunications agreements.
The Creditors’ Committee, which is comprised chiefly of bondholders and trade creditors, protects the interests of unsecured creditors in the WorldCom bankruptcy, the largest bankruptcy case in U.S. history. The Committee was established after WorldCom filed for bankruptcy in July of last year.