Law360 (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.
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