(Bloomberg) -- Motorola Inc., the world's second-
biggest mobile-phone maker, misled investors about the prospects
of its failed Iridium LLC satellite unit and should be forced to
repay more than $3.45 billion to bondholders, lawyers said.
In closing arguments before Judge James Peck in U.S.
Bankruptcy Court in Manhattan today, a lawyer for Iridium
creditors said the company was insolvent even before its 1998
launch because Motorola saddled it with debt and a poor business
plan as consumers shunned its bulky, expensive phones.
Read more at Bloomberg Bonds News
biggest mobile-phone maker, misled investors about the prospects
of its failed Iridium LLC satellite unit and should be forced to
repay more than $3.45 billion to bondholders, lawyers said.
In closing arguments before Judge James Peck in U.S.
Bankruptcy Court in Manhattan today, a lawyer for Iridium
creditors said the company was insolvent even before its 1998
launch because Motorola saddled it with debt and a poor business
plan as consumers shunned its bulky, expensive phones.
Read more at Bloomberg Bonds News
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