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« Surprised?Bust them up!! »
This is a sub-selection from SOL, maybe..


RARPSL

join:1999-12-08
Suffern, NY
reply to tmc8080

Re: SOL, maybe..

said by tmc8080:

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?

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.


tshirt
Premium,MVM
join:2004-07-11
Snohomish, WA
kudos:5
Reviews:
·Comcast
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!

tmc8080

join:2004-04-24
Brooklyn, NY
Reviews:
·ooma
·Optimum Online
·Verizon FiOS
reply to RARPSL
said by RARPSL:

said by tmc8080:

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?

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.

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!