5th Circ. Pulls Texas Justices Into Deepwater Insurance Row

Law360, New York (August 29, 2013, 8:27 PM EDT) -- The Fifth Circuit retreated Thursday from its decision to extend Transocean Ltd.'s $750 million in coverage for the Deepwater Horizon oil spill to BP PLC, enlisting the Texas Supreme Court to help decide a case with “wide ramifications” for insurance in the oil and gas business.

A unanimous panel withdrew its March opinion siding with BP and asked the Texas high court to determine whether its precedent limits BP's status as an additional insured to the liabilities Transocean, the rig owner, assumed in the companies' drilling...
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