Court reverses course on BP liability insurance entitlement suit

08/29/2013 | Times-Picayune (New Orleans), The

A federal appeals court in New Orleans reversed its March decision allowing BP to gain partial access to the $750 million insurance coverage through Transocean's liability insurance, related to the 2010 Gulf of Mexico oil spill. The federal court is expected to seek more information from the Texas Supreme Court that could aid in reaching a definitive ruling. "We continue to believe that the 5th Circuit got it right in its previous unanimous opinion and think that result will be confirmed," said BP spokesman Geoff Morrell.

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Times-Picayune (New Orleans), The

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