Ace Settles Deepwater Coverage Fight With BP Contractor

Law360, New York (December 22, 2011, 11:03 PM EST) -- Ace American Insurance Co. on Thursday settled its insurance coverage suit against M-I LLC, which had a contract with BP PLC to do mud engineering work on the oil well that was the site of the Deepwater Horizon disaster.

M-I and Ace filed a joint stipulation for dismissal in Texas federal court, noting they had settled the dispute. Lawyers for both sides did not immediately respond to requests for comment Thursday, and the settlement terms were not disclosed.

Ace launched the suit against M-I in August...
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