Revised SunEdison D&O Allocation Pact Gets Judge's OK
Law360, New York (October 3, 2017, 8:59 PM EDT) -- A New York bankruptcy judge Tuesday approved an insurance benefit allocation agreement for SunEdison Inc. and its affiliated solar yieldcos after receiving revisions addressing the concerns of two former executives afraid of losing policy protections.
SunEdison attorneys told U.S. Bankruptcy Judge Stuart M. Bernstein that a “furious” week of negotiations had resulted in new language in an agreement to split the approximately $50 million that remains in a directors and officers insurance policy shared between the energy company and yieldcos TerraForm Global and TerraForm Power that will guarantee coverage for the two executives.
SunEdison sought court approval for the insurance agreement at...
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