Lloyd's, Taylor Settle Suit Over Sunk Oil Platform

Law360, New York (November 11, 2010, 12:54 PM EST) -- Following a judge's ruling in Taylor Energy Co. LLC's favor, the oil company and Lloyd's of London underwriters have agreed to settle a coverage dispute over the drilling of relief wells as part of the cleanup effort at an offshore oil facility damaged by Hurricane Ivan.

Judge Stanwood R. Duval Jr. of the U.S. District Court for the Eastern District of Louisiana dismissed the case Wednesday because "the parties to this action have firmly agreed upon a compromise," he said.

Representatives for Lloyd's and Taylor Energy...
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