BP will not be allowed to pass off massive costs associated with the 2010 Deepwater Horizon explosion onto insurance companies that wrote $750 million worth of policies for another company that owned the drilling rig, according to a recent decision by the Texas Supreme Court.
The high court’s 8-1 decision in In Re Deepwater Horizon resolves one of the most expensive disputes on its docket and represents a huge defeat for the giant oil company. The background to the insurance coverage dispute is as follows, according to the majority decision.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
