Former Telecom CEO Ordered To Repay $12M Loan

Law360, New York (January 25, 2008, 12:00 AM EST) -- A former AT&T Corp. president has been ordered to pay more than $12 million as a result of allegedly preferential and fraudulent transfers made to him after he left now-bankrupt telecommunications company Teligent Inc.

Chief U.S. Bankruptcy Judge Stuart M. Bernstein of the Southern District of New York entered his final judgment on Thursday, awarding Teligent's unsecured claim estate the multimillion-dollar judgment against Alex Mandl, who had served as board chairman and CEO before IDT Corp. took over Teligent.

Attorneys for the estate and Mandl did...
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