A satellite communications company has won its bid to require its insurers to cover nearly $9 million in counsel fees awarded to Paul, Weiss, Rifkind, Wharton & Garrison in connection with a shareholder derivative suit filed in Delaware.
The insurers argued that Loral Space & Communication Inc. did not suffer a covered loss under its insurance policy, since the remedy crafted by the Delaware court did not require Loral to pay money to the minority shareholders represented by Paul Weiss.
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