NEW YORK - Verizon Wireless sued the Federal Communications Commission on Tuesday in an attempt to recoup a $1.74 billion deposit related to the aborted auction of wireless licenses held by NextWave Telecom Inc. <br>
<br>
The suit, filed in the U.S. Court of Appeals for the District of Columbia, comes more than a month after Verizon Wireless unsuccessfully petitioned the FCC for the return of its funds, carrier spokesman Jeffrey Nelson said. <br>
<br>
``We want our money back,'' he said. <br>
<br>
With a successful $8.7 billion bid, Verizon won rights to 67 of 216 NextWave wireless spectrum licenses auctioned last February. But the auction was nullified last June by a federal appeals court, which ruled that the FCC violated bankruptcy laws when it repossessed the licenses from NextWave and reauctioned them. <br>
<br>
The ruling returned the spectrum licenses to NextWave, which is still under bankruptcy protection. <br>
<br>
``The FCC has neither delivered the licenses to us ... nor has it recognized that the auction is void,'' said Denny Strigl, Verizon Wireless president and chief executive. <br>
<br>
The loss of interest on the deposit is costing Verizon Wireless more than $250,000 a day - or a total of $80 million already, Strigl estimated. <br>
<br>
FCC officials did not immediately return calls seeking comment.
