Global Crossing asked to explain accounting practices

A congressional committee on Tuesday asked bankrupt telecommunications company Global Crossing Ltd. to explain its accounting practices and compensation packages for top executives.

The letter from leaders of the House Energy and Commerce Committee marked the first time congressional investigators have sought documents from Global Crossing, which filed for bankruptcy protection in January.

Lawmakers said they want to determine whether Global Crossing concealed its true financial condition, similar to the way Enron Corp. has acknowledged misstating earnings, revenue and debt in recent years.