NEWS WorldCom is expected to file for Chapter 11 bankruptcy protection from its creditors on Monday. For WorldCom's new CEO John Sidgmore the move will come as an embarrassment after he recently claimed the business was not another KPNQwest and hoped to avoid bankruptcy. If WorldCom does file for Chapter 11 this Monday, it will be the largest ever filing in the US - eclipsing even Enron. Not surprisingly, a source close to the situation said the recent $3.85bn accounting scandal has proven to be the breaking point.
WorldCom on the brink of bankruptcy
'OK, everybody remember to look really surprised...'
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