Verizon Conned Fairpoint, Creditors Claim → SOL, maybe..

they don't have the statue of limitations called SOL for nothing...
why did Fairpoint wait this long to bring a lawsuit about getting the short end of the stick?

many of these deals closed 7-10 years ago...
consumers have as little as 30 days (with rare exceptions) to report fraud on their bank & credit card statments to be 100% covered by zero liability provisions of the account.

perhaps it was CONVENIENT to play nice with Verizon because they still were helping them figure out how to run a local bell company and how to screw over customers & employees and have them think they're a best friend doing them a favor...

that is, until Verizon can distance themselves from the titanic like a devilish red iceberg...

The suit is NOT being brought by Fairpoint (pre or post Bankruptcy) but by the creditors of Pre-Bankrupt Fairpoint who were left holding the bag when Fairpoint went bankrupt and reorganized.

And why were they stupid enough to lend money to this venture?

If they are creditors of Frontier, then it wasn't verizon that mislead them, but frontier's staff and their own due diligence team.
there was no fraud, any one with half a brain saw this is a VERY high risk gamble at best.
a reasonable deal would have been to take the debt and the territory with full responsiblity...NO CASH!

I'm no legal judge, but IMO, I'd now say SOL, definitely. These creditors knew what they were getting into when they signed off on it (or SHOULD have known). When Verizon transferred this debt, they KNEW they were left with PISS POOR infrastructure that had less than ZERO chance of being upgraded and therefore by proxy increased revenue, profit and a chance of getting paid back by offering more value to the consumer. Therefore, barring any malfeasance & HIDDEN fraud on the part of Verizon or the lawyers this case is dead before it begins. There are stunning similarities to the mortgage fraud, except that was REAL fraud.. this was just a super duper slick lube job on the part of Verizon to get rid of the COPPER NETWORK they never had any intention of upgrading due to the souring economy along with a whole lot of debt offloaded. While I'd have some pity if these creditors cried foul years ago, but now when they have a very good chance of getting diddly? Hah! I'm no fool, but if you have the slighest chance of losing BILLIONS of dollars in the greatest telco fleecing job since MCI worldcom... you scream it from the rafters immediately!