BP, Transocean Sued Over Deepwater Insurance Claims

Law360, Los Angeles (February 14, 2013, 11:08 PM EST) -- Arch Insurance Co. Ltd. and certain underwriters at Lloyd’s of London sued BP Exploration & Production Inc. and Transocean Holdings LLC in Louisiana federal court on Thursday, saying they face multiple, potentially conflicting and competing insurance claims in connection with the Deepwater Horizon oil spill.

Thursday’s complaint for interpleader, which seeks to ensure that payments are made to the proper entities, comes less than two months after Transocean asked the Fifth Circuit to reject BP’s arguments that Transocean’s insurers are obligated to cover BP’s costs from...
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