Verizon Fights To Bring Claims Over $2B Landline Deal

Law360, New York (January 12, 2011, 3:22 PM EST) -- Verizon Communications Inc. is continuing to attack elements in FairPoint Communications Inc.’s Chapter 11 plan that would prevent the telecommunications giant from asserting claims against Capgemini US LLC related to a ruinous $2.3 billion landline deal.

Verizon filed a supplemental objection Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, urging Judge Burton R. Lifland to reject FairPoint’s third amended reorganization plan unless the debtor eliminates the third-party injunction.

With a confirmation hearing scheduled Thursday, Verizon made one last stab at the...
To view the full article, register now.