Global Crossing Limited, was a telecommunications company that provided computer networking services and operated a tier 1 carrier.

In 1997, the company raised $35 million, including investments by Winnick and the CIBC Argosy Merchant Funds (later Trimaran Capital Partners).

[10] Later that year, in September 1999, the company acquired Frontier Communications, the former Rochester Telephone Corporation, for $9.9 billion and renamed it Global Crossing North America.

[13] That same month, Global Crossing acquired 49% of SB Submarine Systems,[10] and formed Asia Global Crossing, a $1.3 billion joint venture with SoftBank Group and Microsoft to build a fiber-optic network in Asia linking Japan, China, Singapore, Hong Kong, Taiwan, South Korea, Malaysia and the Philippines.

[15] In January 2000, the company formed a 50/50 joint venture with Hutchison Whampoa, valued at $1.2 billion, for a fiber-optic network in Hong Kong.

[17] Leo Hindery, who had joined the company a few months earlier as head of its web hosting division, GlobalCenter, then became CEO.

[citation needed] In September 2000, the company announced a deal to sell GlobalCenter to Exodus Communications for $6.5 billion in stock.

[30] In March 2004, Gary Winnick and other ex-executives settled lawsuits filed by investors and former employees accusing the executives of committing securities fraud by using improper accounting to inflate the company's revenue.

The company hired lobbyist and former United States Assistant Attorney General Anne Bingaman, married to Democratic New Mexico Senator Jeff Bingaman, paying her $2.5 million between January and June 1999 to try to block licensing of an AT&T, MCI, and Sprint consortium to lay cable from the U.S. to Japan.

[32][33] Despite the massive layoffs, unpaid employees, and cancelled pensions as a result of the bankruptcy, executives received huge bonuses and loan relief.

[35] Global Crossing's undersea cable division contracted with British Defense Ministry to operate the LR5 rescue submersible.