XO has $461 Million in debt that matures in 2009. It is owed to the Chairman of the Board at XO, Mr. Carl Icahn. R2, a minority shareholder, says it will sue Icahn if XO files bankruptcy.
XO’s stock was holding steady at 75 cents on Friday. The company trades on the Over The Counter Bulletin Board and its shares have dipped to 47 cents over the past 52 weeks. Company executives said they don't comment on shareholder disputes. [phone+]