Law360, New York (September 20, 2011, 10:39 PM ET) -- A Texas federal judge on Monday refused to dismiss claims that Verizon Communications Inc. defrauded creditors of spinoff company Idearc Inc. by saddling the company with billions of dollars of debt and driving it into bankruptcy.
In a partial motion to dismiss lodged in November 2010, Verizon argued that U.S. Bank National had provided no circumstances to support its state fraudulent transfer claim that Verizon had intended to "hinder, delay or defraud" creditors when it spun off Idearc in November 2006.
However, U.S. District Judge A....
Verizon Can't Dodge Fraud Claims Over Idearc Spinoff
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