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Southern District of New York Bankruptcy Judge Arthur J. Gonzalez on Tuesday cleared WorldCom Inc. to borrow up to $1.1 billion in debtor-in-possession financing. That's just more than half the $2 billion the company thought it would need when it filed for bankruptcy protection in July. In all, 19 parties filed objections to the DIP. Most were settled before the hearing, and Gonzalez overruled the remaining handful.
October 17, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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