Marine Surveyor Defeats Insurers' $500M Chevron Rig Suit

Law360 (July 9, 2019, 8:24 PM EDT) -- Insurance underwriters for Chevron Corp. cannot hold marine surveyor American Global Maritime Inc. liable for the $500 million they paid to cover losses from the failure of an offshore oil rig built for the energy giant, a Texas federal judge ruled Tuesday, dismissing all remaining counts in the underwriters' suit. 

After covering Chevron's massive financial losses from the 2015 failure of the "Big Foot" rig in the Gulf of Mexico, the company's underwriters filed suit against American Global and other contractors involved in the project in an effort to recover the payout. In a prior order issued in October, Chief U.S....

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Court

Texas Southern

Nature of Suit

380(Personal Property: Other)

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Date Filed

October 13, 2016

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