The trial to begin in October where creditors of yellow page publisher Idearc Inc. are seeking billions in damages from Verizon Communications Inc. (VZ) is the biggest fraudulent transfer suit since Tousa Inc., as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their podcast. U.S. District Judge Jed Rakoff will decide a fraudulent transfer issue late this year that will have importance beyond the liquidation of Bernard L. Madoff Investment Securities LLC. The podcast ends with discussion of two recent bankruptcy decisions with surprising results. In one, a Maryland district judge allows the same individual to have two bankruptcies pending simultaneously. In the second, a Florida district judge ruled that the debt arising from a shooting is a liability that can be shed in bankruptcy.
Running time 15:11