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In RE Worldcom, Inc.
Citation:United States Bankruptcy Court, Southern District of New York, 2007. 361 B.R. 675.
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Michael Jordan, a star basketball player, entered into a sponsorship contract with Worldcom, a multinational conglomerate. Due to internal failures, Worldcom entered into bankruptcy proceedings while the contract with Jordan was only partially performed. Jordan asserted a claim against worldcom in the bankruptcy proceedings, and sought to recover the balance due under the contract. Worldcom’s bankruptcy administrators sought to reduce the amount due to Jordan by arguing that he had failed to mitigate damages.
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