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MONDAY, JULY 22, 2002

WorldCom Inc. declared bankruptcy on Sunday night, beating Enron for the largest such filing in U.S. history.

WorldCom is the latest in a string of companies affecting by accounting woes. The telecommunications giant said had improperly accounted for $3.9 billion over five quarters.

WorldCom listed over $107 billion in assets, twice the amount involved in Enron's collapse, and $41 billion in debt.

Get the Story:
WorldCom Files Record Bankruptcy Case (The Washington Post 7/22)
Q&A: What Filing Will Mean To Customers, Investors (The Washington Post 7/22)
Bankruptcy at WorldCom Is the Largest in U.S. History (The New York Times 7/22)
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Relevant Documents:
WorldCom Chapter 11 Petition (7/21)

Relevant Links:
WorldCom - http://www.worldcom.com