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Some creditors may revote

Friday, Sept. 12, 2003 | 9:28 a.m.

AUBURN, Va. -- Creditors of WorldCom Inc. who hold about $2.8 billion in claims may have to vote again on the company's plan to exit the largest bankruptcy in history, a WorldCom attorney said.

The so-called Class 6 creditors are vendors and business partners of WorldCom, the No. 2 U.S. long-distance telephone company. They were among a larger group of creditors holding $21 billion in claims who previously voted to approve WorldCom's recovery plan.

"We in concept agree that Class 6 should vote," WorldCom attorney Marcia Goldstein told U.S. Bankruptcy Judge Arthur Gonzalez today.

Gonzalez is currently weighing the plan, which slashes debt and hands ownership of the company to creditors. Hearings began this week and will continue Monday. Competitors have challenged the company's bid to exit bankruptcy by October, citing the alleged $11 billion accounting fraud at WorldCom and new accusations of illegal call routing.

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