A lawsuit accusing Verizon of defrauding creditors of Idearc, Inc., Verizon’s telephone directory publisher can proceed to trial, a judge ruled Monday.

U.S. District Judge A. Joe Fish in Dallas denied a request by Verizon’s attorneys to dismiss the suit, which claims Verizon sought to “hinder, delay, or defraud” creditors of its former directory publishing business, spun-off in 2006.

“These detailed and particularized allegations show that Verizon had a motive and opportunity to commit the alleged actual fraudulent transfers, and they permit the court to draw a reasonable inference of Verizon’s intent,” Fish ruled.

Creditors are upset that Verizon may have breached its fiduciary responsibility when it sold off Idearc, keeping nearly $9.5 billion in assets for itself while ultimately leaving the newly-independent publisher insolvent.

Verizon used a legal maneuver called a Reverse Morris Trust that left Idearc with enormous debt, but a tax-free sale for the phone company.  A federal class action lawsuit called that “a massive, Enron-style debt off-loading spin transaction” and accused the company of fraud.

The track record for Verizon’s spinoffs have not been good.  Three of them resulted in quick bankruptcy for Hawaiian Telcom, Idearc, and FairPoint Communications.  The last — a spinoff of landlines to Frontier Communications, has left Frontier with substantial debt.

Idearc filed for bankruptcy in 2009.  In renamed itself SuperMedia in 2010 after exiting bankruptcy proceedings and still does business from its headquarters in Dallas.