Commercial General Liability

Verizon Wins Coverage for Underlying Settlement

“The lawsuit alleged, among other things, that the landline telephone assets that Spinco and FairPoint received in exchange for their cash, stock and debt securities were effectively worthless and made Spinco and FairPoint immediately insolvent at the time of the transactions,” said McKenna.

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Keith McKenna, partner with Cohen Ziffer Frenchman & McKenna. Courtesy photo

Verizon Communications recently won a judgment that their settlement of an underlying action was covered under their insurance policy. We spoke with Keith McKenna, partner at Cohen Ziffer Frenchman & McKenna, who was part of the team representing Verizon. The case is Verizon Communications Inc. v. National Union Fire Insurance Company of Pittsburgh, Pa., C.A. No. N18C-08-086. 

The Underlying FairPoint Suit 

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Kelly Helton, JD

 

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