Texas High Court Enters $750M BP, Transocean Coverage Fray

Law360, New York (September 6, 2013, 2:20 PM EDT) -- The Texas Supreme Court agreed Friday to help the Fifth Circuit sort out a brawl between BP PLC and Transocean Ltd. over $750 million in coverage for the Deepwater Horizon oil spill, a case closely watched by insurers and oil and gas companies.

The high-stakes litigation heads to the Texas high court after the Fifth Circuit took the unusual step of retreating from a March ruling that provided BP coveted access to Transocean's policies with Ranger Insurance Co. and Lloyd's of London.

The pivotal question in...
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