Court reverses decision on BP getting oil spill insurance money
Published: August 30,2013
Tags: appeal, bench, BP, court, crude, death, decision, diesel, disaster, ecosystem, energy, environment, fatality, fuel, gasoline, gulf of mexico, insurance, judicial, judiciary, law, loegal, offshore drilling, Oil, oil rig, oil spill, petroleum, restauratn, ruling, seafood, Tansocean, tourism, tourist, vacation, visitor, wildlife
NEW ORLEANS — A federal appeals court has withdrawn its earlier ruling that BP is entitled to a portion of $750 million in coverage under a contractor’s insurance policies to help the London-based oil giant pay for costs associated with its massive 2010 oil spill in the Gulf of Mexico.
A three-judge panel of the 5th U.S. Circuit Court of Appeals yesterday substituted its previous opinion in March with two questions for the Texas Supreme Court to answer. The panel said the policy factors at issue in the case are better gauged by the state high court than by a federal court.
BP leased the drilling rig that exploded in the Gulf from Transocean Ltd. and had a contract requiring the Swiss-based drilling company to maintain minimum insurance coverages for BP’s benefit.
To sign up for Mississippi Business Daily Updates, click here.
3 Responses to “Court reverses decision on BP getting oil spill insurance money”
Top Posts & Pages
- DAVID DALLAS — Just how long can Dan stand?
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- Chancery judge delays JRA bond approval for Jackson's Westin hotel
- KILL BILL: Common Core death knell heads to Gov. Bryant's desk
- The Dan Jones-IHL saga: Is this the story that started it all?
- Keeping our eye on: Neal Stephens
- Cal-Maine income skyrockets as prices rise and costs shrink
- DAVID DALLAS — From Dan and Dixie with love
- Business groups file briefs in support of Kemper coal plant rehearing