PRESS RELEASE
For Immediate Release
August 7, 2002
DICK THORNBURGH SELECTED AS EXAMINER
IN WORLDCOM INC. BANKRUPTCY CASES
WASHINGTON, D.C.- The appointment of former Attorney General
Dick Thornburgh as Examiner in the WorldCom bankruptcy cases
was approved last night by the United States Bankruptcy Court
for the Southern District of New York. The Justice Department,
through the United States Trustee in New York, made the appointment
Aug. 1, 2002. The court allowed three business days for parties
to object. No objections were filed.
WorldCom filed bankruptcy July 21, 2002. The United States
Trustee sought approval to appoint an examiner on July 22,
2002, and the court granted approval the same day. Under the
court's order, the examiner is authorized to investigate any
allegations of fraud, dishonesty, incompetence, misconduct,
mismanagement, or irregularity in the arrangement of the affairs
of any of the debtors by current or former management. The
Examiner shall file a report within 90 days of the date of
appointment, unless the court extends that time.
"The Examiner's appointment will help protect WorldCom's
creditors and shareholders by bringing transparency to these
cases and ensuring that issues of possible mismanagement and
civil fraud are thoroughly investigated," said Attorney General
John Ashcroft. "I am pleased that Dick Thornburgh, a person
of integrity and independent stature, has agreed to take on
this task. I am confident that he will examine carefully all
the facts and file with the court a report that will help
bring these cases to an appropriate resolution."
Thornburgh is currently of counsel to the national law firm
Kirkpatrick & Lockhart LLP in Washington, D.C. He has
been engaged in public service for more than 25 years. Thornburgh
served as Attorney General from 1988 to 1991, and as Under-Secretary-General
at the United Nations from 1992 to 1993. He was a two-term
Governor of Pennsylvania, elected first in 1978 and again
in 1982. Thornburgh headed the Justice Department's Criminal
Division from 1975 to 1977, and served as United States Attorney
for the Western District of Pennsylvania from 1969 to 1975.
A native of Pittsburgh, Thornburgh received an engineering
degree from Yale University and a law degree from University
of Pittsburgh School of Law. He has been awarded honorary
degrees by 30 other colleges and universities.
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