Goldman Sachs & Co. has agreed to give back $9.5 million of $13.2 million that WorldCom Inc. paid for financial advice in the weeks before the telecommunications company's huge bankruptcy filing.
WorldCom hired Goldman in May 2002 to help find new investors, advise on possible mergers with other telecom firms, arrange bankruptcy financing and explore the possible sale of assets and businesses, according to papers filed in U.S. Bankruptcy Court in Manhattan.
