Opinion
Case No. 02-13533 (AJG), (Jointly Administered).
October 21, 2005
STINSON MORRISON HECKER LLP, Attorneys for the Reorganized Debtors, Mark A. Shaiken, Esq., Patricia A. Konopka, Esq., Kansas City, MO.
ORDER REGARDING PROOFS OF CLAIM NOS. 38538, 38536, 38545, 38568 AND 38569
Upon consideration of (1) Proof of Claim Nos. 38538 and 38536, filed by Kim C. Cosgriff; (2) Proof of Claim No. 38545, filed by Merrilee Zellner; (3) Proof of Claim No. 38568, filed by Anthony Barbuto; and (4) Proof of Claim No. 38569, filed by John Carruth (collectively, the "Expunged Claims"), each filed against WorldCom, Inc. and certain of its direct and indirect subsidiaries (collectively, the "Debtors"), attached hereto asExhibit A; and it appearing that the Expunged Claims were not filed until July or September, 2005, as the case may be, approximately 30 months after the January 23, 2003 Bar Date for filing proofs of claim in these chapter 11 cases; and it further appearing that the attachments to the Expunged Claims reflect WorldCom Equity Interests, as defined in the Debtors' Modified Second Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code (the "Plan"); and it appearing that, pursuant to the Plan, holders of Class 7 WorldCom Equity Interests are not entitled to receive a distribution on account of such interests; and it appearing that this Court entered an order approving the Fourteenth Omnibus Objection to Proofs of Claim (Reclassification, Subordination and, as applicable, Late Claims) (the "Subordination Order") (Docket No. 7944); and it appearing that pursuant to the Subordination Order, the Debtors are authorized to notify claimants asserting claims arising from the purchase or sale of securities of the Debtors that such claims are reclassified as Class 7 WorldCom Subordinated Claims under the Plan, without further order of the Court; and it appearing that in accordance with the Plan, a holder of a Class 7 WorldCom Subordinated Claim will not receive a distribution on account of such claim; and it appearing that the expungement of the Expunged Claims is in the best interest of the Reorganized Debtors, their estates and their creditors; and good and sufficient notice of this Order having been given to the holders of the Expunged Claims in accordance with the Subordination Order; and after due consideration and sufficient cause appearing therefore, it is
ORDERED that Proofs of Claim Nos. 38538, 38536, 38585, 38568 and 38569, are each hereby disallowed and expunged in their entirety; and it is further
ORDERED that to the extent any holder of an Expunged Claim has a claim for damages arising out of the purchase or sale of securities of the Debtors, such claim shall be treated as a Class 7 WorldCom Subordinated Claim for all purposes under the Plan.