SECURITIES AND EXCHANGE COMMISSION ~~Washington, D.C. 20549-1004~~

Washington, D.C. 20549-1004

FORM 8-K

CURRENT REPORT ~~Pursuant to Section 13 or 15(d) of the~~ ~~Securities Exchange Act of 1934~~

~~Date~~Pursuant ofto ~~report~~Section 13 or 15(~~Date~~d) of ~~earliest~~the Securities ~~event~~Exchange ~~reported)~~Act ~~November 21,~~of ~~2002~~1934

~~Asia~~Date ~~Global~~of ~~Crossing~~report ~~Ltd.~~ (~~Exact~~Date ~~Name~~ of ~~Registrant~~earliest asevent ~~Specified~~reported) inJanuary 28, ~~Charter)~~2003

Asia Global Crossing Ltd.

(Exact Name of Registrant as Specified in Charter)


Bermuda (State or Other Jurisdiction of Incorporation)		000-30994 (Commission File Number)		98-022-4159 (IRS Employer Identification No.)


Mintflower Place, 2nd Floor, 8 Par-La-Ville Road Hamilton, Bermuda (Address of Principal Executive Offices)		HM08 (Zip Code)

Registrant’s telephone number, including area code (441) 296-6485

TABLE OF CONTENTS

	Item 5. Other Events.
	Item 7. Financial Statements and Exhibits.
SIGNATURE
~~EXHIBIT INDEX~~	EXHIBIT INDEX
EXHIBIT 99.1
EXHIBIT 99.2

INFORMATION TO BE INCLUDED IN THE REPORT

Item 5. Other Events.

AsOn ~~previously announced~~January 29, ~~on November 17~~2003, ~~2002~~ Asia Global Crossing Ltd. (the “Company”) ~~filed~~announced that athe ~~petition~~sale ~~for~~of ~~relief~~substantially ~~under~~all ~~Chapter 11~~ of the ~~United States~~Company’s ~~Bankruptcy~~operating ~~Code~~subsidiaries (excluding inPacific ~~the~~Crossing ~~United~~Ltd. ~~States~~and ~~Bankruptcy~~related ~~Court~~entities) ~~for~~to ~~the~~Asia ~~Southern~~Netcom ~~District~~transaction ofwas ~~New~~approved ~~York~~by (the “U.S. Bankruptcy Court~~”),~~ infor ~~connection with~~ the ~~proposed sale~~Southern District of ~~substantially~~New ~~all~~York ~~of the operations and assets of the Company~~ (the “~~ANC Transaction~~Bankruptcy Court”).

~~Under~~A ~~the~~copy ~~terms~~ of the ~~Indenture governing the~~ Company’s 13press ~~3/8%~~release ~~senior notes~~regarding (the ~~“Notes”)~~approval ~~due~~is ~~2010, the filing of a petition for relief constitutes a~~attached ~~default~~hereto ~~under~~as ~~the Notes. On November~~Exhibit 2199.1, ~~2002,~~and ~~pursuant~~a tocopy ~~the terms~~ of the ~~Indenture,~~ ~~The~~order ~~Bank~~ of ~~New York, as trustee (~~the ~~“Trustee”) under the Indenture, gave notice of this default. The “automatic stay” provisions of the~~ Bankruptcy ~~Code~~Court ~~stay the enforcement by the Trustee of any remedies in respect~~is ofattached ~~such~~hereto ~~default.~~as ~~As a result, the assertion of such default in not expected to have any effect on the Company’s restructuring in Chapter~~Exhibit ~~11, including the Company’s efforts to seek Bankruptcy Court approval of the ANC Transaction~~99.2.

On October 28, 2002, the Company paid $27,699,012 to the Trustee for the benefit of the holders of the Notes in respect of the interest payment originally due October 15, 2002. Also on October 28, a special record date for this payment was set for November 12, 2002, with payment scheduled for November 22, 2002, as required under the Indenture governing the Notes. The November 21 notice from the Trustee also stated that, as a result of the bankruptcy filing, the Trustee will not disburse this payment to the holders of the Notes.

A copy of the notice from the Trustee is attached hereto as Exhibit 99.1.

Item 7. Financial Statements and Exhibits.

(c)	~~(c)~~	Exhibits.	~~Exhibits.~~
99.1	~~99.1~~	Press Release, dated January 29, 2003	~~Notice from Trustee, dated November 21, 2002.~~
99.2		Order of the U.S. Bankruptcy Court for the Southern District of New York, dated January 28, 2003

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ASIA GLOBAL CROSSING LTD. By: /s/ Stefan C. Riesenfeld Name: Stefan C. Riesenfeld Title: Chief Financial Officer


		ASIA GLOBAL CROSSING LTD.



		By: /s/ Stefan C. Riesenfeld Name: Stefan C. Riesenfeld Title: Chief Financial Officer

Dated:	January 29, 2003

~~Dated: November 26, 2002~~3

EXHIBIT INDEX

Exhibit No.		Description
99.1		~~Notice~~Press ~~from Trustee~~Release, dated ~~November~~January 2129, ~~2002.~~2003
99.2		Order of the U.S. Bankruptcy Court for the Southern District of New York, dated January 28, 2003

Table of Contents

Table of Contents

Table of Contents

Table of Contents

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