Recent Developments
Recent Developments
- On January 22, 2013, following a 10-day bench trial, the U.S. District Court for the Northern District of Texas agreed with Verizon that its former subsidiary, Idearc, Inc., was not insolvent on November 17, 2006, the day Verizon spun it off to become a separate entity. The plaintiff – the litigation trustee of the Idearc bankruptcy estate – brought this case claiming that Verizon spun Idearc off to bury its unprofitable Yellow Pages business unit and thereby take the losses of that unit off Verizon’s books.
Recent Developments
Global—On 26 October 2012, the U.S. Court of Appeals for the Second Circuit, in a ruling that may impact sovereign debt restructurings, upheld a lower court order enjoining Argentina from making payments on restructured defaulted debt without making comparable payments to bondholders who did not participate in the restructuring.
Recent Developments
Recent Developments
On May 24, 2012, the California Public Utilities Commission (CPUC) dismissed with prejudice a complaint brought by AT&T California, Inc. against Fones4All Corp. in 2006. AT&T sought to recover alleged overcharges paid to Fones4All for termination of intraLATA toll traffic. Following an evidentiary hearing, the CPUC issued D.07-07-013, granting the relief AT&T requested in its complaint, or approximately $2.6 million, plus interest.
- On December 20, 2011, the South Carolina Public Service Commission (SC PSC) issued a scheduling order for AT&T South Carolina’s complaint against Halo Wireless. AT&T alleges that Halo, which filed for bankruptcy protection after AT&T initiated this action and similar complaints in several other states, was sending AT&T landline-originated traffic but refused to pay terminating access charges. AT&T also alleges that Halo has been manipulating call signaling information to hide the traffic’s true origin and to make it appear as wireless-originated traffic.