http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/07/09/financial1805EDT0332.DTLMCI Inc. is suing its former CEO Bernard Ebbers, saying he must repay $408 million the company loaned him over two years.
The suit, filed Friday in U.S. Bankruptcy Court for the Southern District of New York, also seeks to void Ebbers' resignation agreement, which promised him $1.5 million in annual pension payments, an office and computer, and use of the company jet.
Ebbers never collected anything other than some health benefits under the separation agreement, the company said.
"This action reflects MCI's obligation to its shareholders to recover as much of the money owed the company as possible," said MCI spokeswoman Brittany Hoff.
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