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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.