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Rockefeller gets sec subpoena { July 25 2003 }

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David Rockefeller gets SEC subpoena on Metromedia Fiber

Friday, July 25, 2003
2003 Associated Press

(07-25) 12:30 PDT (AP) --

NEW YORK (Dow Jones/AP) -- David Rockefeller, the former chairman of Chase Manhattan Bank, has received a subpoena from the Securities and Exchange Commission regarding his role as a director with bankrupt Metromedia Fiber Network Inc.

Metromedia Fiber, which runs a fiber-optic network, filed for Chapter 11 bankruptcy-court protection in May 2002, after saying it would restate 2001 results.

Rockefeller retired in 1981 from Chase, which is now part of J.P. Morgan Chase & Co.

He served as a director of White Plains, N.Y.-based Metromedia Fiber from 1997 until Feb. 1, 2001, and sat on the firm's audit committee.

According to filings with the U.S. Bankruptcy Court in White Plains, Rockefeller got the subpoena on April 14.

Rockefeller wants Metromedia Fiber to cover defense costs related to the production of documents for the SEC -- a request the company wants Judge Adlai S. Hardin Jr., the judge overseeing its Chapter 11 case, to deny.

But Metromedia Fiber doesn't object to Rockefeller's alternative request for his legal costs to be covered by the firm's directors and officers liability insurance.

The matter will be discussed at a hearing Tuesday in White Plains.

2003 Associated Press

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