by Chris Nolter
While takeover speculation continues to follow MCI Inc., and has now enveloped its rival AT&T Corp., the telecom's lawyers are renewing a battle with state tax authorities in bankruptcy court Tuesday, July 27.
A group of 14 states, led by Massachusetts, is asking U.S. Bankruptcy Judge Arthur Gonzalez to unseal between 30 and 35 boxes of documents, as well as digital information, that Ashburn, Va.-based MCI provided the Securities and Exchange Commission (news - web sites) in regard to tax work done by KPMG."
"The dispute is part of a larger battle over state tax claims filed with the bankruptcy estate, and could have serious implications for both sides even though MCI exited Chapter 11 protection in April. The company's SEC filings state that various states have submitted roughly $2.75 billion in claims, so significant funds are at stake."
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