5th Circ. Nixes Insurer's Win Over BJ Services Execs' Theft

Law360, New York (September 9, 2013, 2:39 PM EDT) -- The Fifth Circuit on Friday gave oil and gas company BJ Services SRL another shot at winning coverage from Great American Insurance Co. for losses that BJ suffered after two of its former executives made off with more than $5 million in fraudulent loans.

The appeals court set aside a ruling against BJ Services and Western Atlas Inc. in the case, sending the insurance fight back to Texas federal court.

The Fifth Circuit said it was possible that Great American owed coverage to BJ for losses...
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