Appaloosa Wins $3M Fee Award In TerraForm, SunEdison Suit

Law360, Wilmington (December 19, 2016, 7:41 PM EST) -- Hedge fund Appaloosa Management LP secured a $3 million legal fee award Monday for what Delaware Chancellor Andre G. Bouchard described as "admirable" results from Appaloosa's twice-amended stockholder complaint challenging TerraForm Power Inc. directors over tainted ties to SunEdison Inc.

Chancellor Bouchard, calling the decision "probably the easiest motion I've had in about two years," approved the fee award as part of a settlement between Appaloosa, TerraForm and its directors in a suit originally launched as a challenge to SunEd's manipulation of TerraForm's board during SunEd's failed $2 billion attempt to buy Vivint Solar Inc.

SunEd, TerraForm's controlling shareholder, attempted to...

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