Williams Communications Stockholder Web Site

Events (Past and Future)

November 2002 - The class action lawsuits (which were filed before the company declared bankruptcy and were put on hold during the bankruptcy process) can resume. These lawsuits are against the original Williams Communications and its officers not the new WilTel or its owners. The total that can be recovered from the original company is quite limited since all the significant assets were given to the new company by the bankruptcy judge.

October 2002 - Judge Lifland approved the company's reorganization plan. A new company has been formed (WilTel). The bondholders and Leucadia hold 98% of the stock in the new company. The new company has no bond debt. The stockholders in Williams Communications get nothing.

July 2002 - Judge Lifland rejected our request to have an equity committee appointed.

July 1, 2002 - Today we learned that the original judge on the Williams Communications bankruptcy case recused himself (he quit). A new judge has been appointed (Judge Lifland).

June 27, 2002 - A hearing did take place in front of Judge Bernstein on our lawyers' motion to have an equity committee appointed. The hearing lasted 3 hours. The judge did not make a ruling on the spot.

June 27, 2002 - This is the new scheduled date for the hearing (which was scheduled for May 30) on the company's motion for the court to approve the contract that defined the "lock up" agreement.

June 5, 2002 - Our lawyers filed a motion in the bankruptcy court asking the judge to instruct the U. S. Trustee to appoint an equity holders committee.

May 29, 2002 - I received word that the hearing for the court to approve the "lock up" contract had been moved out by four weeks. This is not bad news for stockholders.

May 20, 2002 - Our lawyers filed a motion in the bankruptcy court opposing a motion filed by the company. The company's motion was for the court to approve the "lock up" agreement as a contract.

May 17, 2002 - Pam Lustrin (U.S. Trustee's office) sent a letter to Victor Sahn stating that "we have determined that the formation of an official equity committee is inappropriate at this time."

Now our lawyers will request that the judge instruct the Trustee to appoint such a committee.

May 13, 2002 - Still Waiting. Pam Lustrin (U.S. Trustee's office) has not yet announced her recommendation concerning the creation of an Equity Holder's Committee. She may do so on Wednesday May 15.

May 9, 2002 - Pam Lustrin (U.S. Trustee's office) may announce her recommendation concerning creation of Equity Holder's Committee

May 3, 2002 - Victor Sahn, our lead attorney, has begun the process of interviewing possible nominees for an Equity Holder's Committee

May 2, 2002 - Pam suggested that a face to face meeting with the Trustee should wait until after May 9

May 2, 2002 - Victor talks with Pam about our request for an Equity Holders Committee and the possibility of a meeting with the Trustee

May 2, 2002 - Mickey suggests a meeting with Carolyn Schwartz, the Trustee, (and Pam's boss) to request, in person, the appointment of an Equity Holders Committee

May 1, 2002 - Victor sends Pam a letter outlining more reasons why we feel an Equity Holders Committee is appropriate

May 1, 2002 - Mickey attends the organizational meeting where Pam officially meets with the company's and debtors' representatives

April 30, 2002 - Mickey Etkin, of Lowenstein Sandler, Roseland NJ, joins our team as local counsel to assist Victor Sahn in requesting appointment of an Equity Holders Committee

April 30, 2002 - Letter from Neal Nelson to Pam Lustrin Recommending Appointment of Equity Holders Committee

April 30, 2002 - Conversation Between Neal Nelson and Patricia Schrage at Securities and Exchange Commission

April 29, 2002 - Bloomberg Article about Oklahoma Investigation

April 25, 2002 - Bankruptcy.com Initiates Coverage of Williams Communications

April 23, 2002 - Request to Appoint Equity Holders Committee from Victor Sahn to Carolyn Schwartz (U.S. Trustee)

April 23, 2002 - Frank Zolfo and Victor Sahn Appointed as Consultants to the Stockholders Committee

April 22, 2002 - Williams Communications Files for Chapter 11 Bankruptcy Protection

April 18, 2002 - Letter from Stockholder Committee to Board of Directors

April 11, 2002 - KVOA, Channel 6, Tulsa Interviews WCG Stockholder

April 10, 2002 - Letter from Stockholder Committee to Howard Janzen

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