MCI has formally emerged from US Chapter 11 bankruptcy protection.
The move signifies that the former Worldcom's plan of reorganisation, confirmed last October by the US Bankruptcy Court for the Southern District of New York, is now effective, and the company has begun to distribute securities and cash to its creditors.
Having completed the Chapter 11 process, the company confirmed that it is now officially known as MCI, Inc.
"MCI's turnaround is a tribute to the human spirit and the amazing will of our 50,000 dedicated employees," said Michael Capellas, MCI president and chief executive, in statement.
"This is a symbolic day for MCI employees, who have remained committed to serving our customers. I feel a great sense of pride for all we've accomplished together."
According to Capellas, MCI emerges with its enterprise customer base intact. He added that, during the past six months, customers such as DaimlerChrysler and Nasdaq have signed new agreements with the firm.
MCI has promised to roll out new products and services in the coming weeks and months, and to announce "several partnerships".
"Our emergence is not the finish line, it's the beginning of a new race," added Capellas.
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