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XM Loses Insurance Arbitration
September 27, 2006 at 6:16 AM (PT)
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XM
An SEC filing by XM SATELLITE RADIO discloses that the company lost its arbitration claim to recover 20% of the value of six BOEING satellites.
XM had previously recovered $142 million from insurers for the claim but had to go to arbitration for the rest, and the filing says that the company was recently told that its claim was rejected and no further recovery would be made.
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