Verizon Notches Win In $95M Settlement Coverage Fight
By Jeff Montgomery (February 24, 2021, 4:53 PM EST) -- Verizon Communications Inc. won a Delaware court ruling Tuesday upholding its entitlement to seek insurance coverage for its $95 million settlement in 2014 of a bankruptcy trustee suit to claw back $2.3 billion of indirect payments from then-insolvent FairPoint Communications.
The decision by Superior Court Judge Eric M. Davis also rejected a raft of insurers' motions for a summary judgment declaring Verizon ineligible for $24 million in legal fee payments in connection with the FairPoint litigation and fraudulent transfer claims.
Fraudulent transfer claims are common in bankruptcy courts and are based on assertions that a debtor was insolvent just prior to a...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!