Verizon Can't Dodge Fraud Claims Over Idearc Spinoff

Law360, New York (September 20, 2011, 10:39 PM EDT) -- 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....
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Case Title

U.S. Bank National Association v. Verizon Communications Inc et al


Case Number

3:10-cv-01842

Court

Texas Northern

Nature of Suit

Torts/Pers Prop: Other Fraud

Judge

A. Joe Fish

Date Filed

September 15, 2010

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