MCI Says It Made $453 Million of Errors
From Bloomberg News
MCI Inc., which filed for bankruptcy protection in 2002 after an $11-billion accounting fraud, said it made $453 million of errors in its reorganization.
MCI, which exited Chapter 11 in April and changed its name from WorldCom, said it mistakenly reduced accounts receivable by $301 million when it restated 2000 results. MCI erroneously reduced some 2003 liabilities by $152 million, the Ashburn, Va.-based company said.
