SonicBlue Bondholders Can't Collect Admiral D&O

Law360, New York (August 18, 2009, 4:49 PM EDT) -- A federal judge has ruled that Admiral Insurance Co. does not have to provide directors and officers insurance coverage to a group of bondholders who took on the responsibilities of defunct graphics chip producer SonicBlue Inc.

In a ruling issued Friday in the U.S. District Court for the Northern District of California, Judge Jeremy Fogel said that Admiral did not have to pay for the bondholders' defense of a group of lawsuits because SonicBlue did not inform the insurer about the potential for litigation when purchasing...
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