Verizon Can't Shake Fraudulent Transfer Claims Over Spinoff

Law360, New York (August 7, 2012, 6:47 PM EDT) -- A Texas federal judge on Monday denied Verizon Communications Inc.'s bid to shake four fraudulent transfer claims brought by U.S. Bank NA related to the $9.9 billion spinoff in 2009 of Idearc Inc., which later filed for bankruptcy under the weight of Verizon's flagging Yellow Pages business.

Verizon was seeking summary judgment on four of the 11 causes of action that remain in the case, brought by U.S. Bank, acting as trustee for the Idearc estate. The claims allege that Verizon knowingly stuck Idearc with assets...
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