University to recoup $9.6 million for Robertson case defense
The University is entitled to nearly $10 million in insurance money to cover some of its legal fees in the Robertson case, a New York appeals court ruled on June 5.The decision requires the National Union Fire Insurance Company to honor the full amount of the policy, which was purchased the same year in which two University-appointed Robertson Foundation trustees suggested the changes in the management of the Foundation's endowment that eventually led the Robertson family to sue the University.The company had previously only been willing to pay up to a $5 million sublimit on the $15 million policy.The Appellate Division, First Department of New York's Supreme Court unanimously denied an appeal by the company and upheld a September 2007 decision by Supreme Court Justice Helen Freedman that awarded Princeton just over $9.6 million.The company argued that the University wanted the funds to fight claims not covered under the insurance policy, but Freedman ruled that National Union had to advance costs for both covered and non-covered claims.