Giuliani Working on WorldCom Issues

Giuliani Partners, a risk management firm run by former New York Mayor Rudolph Giuliani, said it is working with bond investment firm MatlinPatterson Global Advisors on corporate governance issues at ailing WorldCom Inc.

MCI parent WorldCom, driven into bankruptcy protection in July by accounting misstatements that total more than $9 billion, appointed former Hewlett-Packard Co. President Michael Capellas as chairman and chief executive Friday.

MatlinPatterson owns about 10% of WorldCom’s debt and wants the bankruptcy judge to accept a reorganization plan that includes Giuliani as chairman, the Wall Street Journal reported.