ERISA Stock-Drop Case Against BP Fiduciaries Is Dismissed

HOUSTON - Participants in BP's retirement plans failed to overcome the presumption that the plans' investment in company stock was prudent, even after the Deepwater Horizon explosion and uncontained oil spill, a federal judge in Texas ruled March 30 in dismissing the participants' breach...

Landowners, Oyster Fisheries Opt Out Of $7.8 Billion BP Settlement, File Suits

NEW ORLEANS - A group of landowners along the Gulf Coast and three oyster fisheries in Louisiana on Nov. 1 officially opted out of BP PLC's proposed $7.8 billion settlement for economic loss and medical claims arising from the oil spill caused by the explosion of the Deepwater Horizon oil rig and...

5th Circuit: BP Well Site Leader Must Submit To Medical Examination

NEW ORLEANS - A Fifth Circuit U.S. Court of Appeals panel on Jan. 3 found that a BP well site leader who was aboard the Deepwater Horizon oil rig must submit to an examination by a court-appointed psychiatrist and provide his medical records to the court-appointed doctor in order to determine whether...

Panel Says BP Is Additional Insured As To Pollution Risks Related To Oil Spill

NEW ORLEANS - BP Exploration & Production Inc. and its related entities are additional insureds under policies issued to Transocean Offshore Deepwater Drilling Inc. and, therefore, are entitled to coverage as additional insureds for claims related to the Deepwater Horizon incident, the Fifth Circuit...

5th Circuit Denies Transocean's Motion To Stay Ruling Enforcing Subpoenas

NEW ORLEANS - Transocean Deepwater Drilling Inc.'s motion to stay pending appeal of the enforcement of government subpoenas requiring the owner of the Deepwater Horizon oil rig to produce documents related to the Chemical Safety and Hazard Investigation Board (CSB)'s investigation of the explosion...

Panel Certifies Questions To Texas High Court Regarding Additional Insured Status

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Aug. 29 withdrew its opinion regarding the additional insured status of BP Exploration & Production Inc. and its related entities under policies issued to Transocean Offshore Deepwater Drilling Inc. and certified questions to the Texas Supreme...

Judge Substantially Dismisses Securities Claims In BP Oil Spill Lawsuit

HOUSTON - In an opinion made available on Oct. 7, a federal judge in New York significantly trimmed the claims in a securities class action complaint filed by Ohio state pension funds against BP PLC., two of its subsidiaries and three former officers and directors, ruling that the pension funds had not...

Divided 5th Circuit Panel Affirms Approval Of Gulf Oil Spill Settlement

NEW ORLEANS - A 2-1 panel of the Fifth Circuit U.S. Court of Appeals on Jan. 10 affirmed a decision by the federal judge in Louisiana overseeing claims stemming from the explosion of the Deepwater Horizon oil rig and ensuing oil spill in the Gulf of Mexico to approve a $9.2 billion settlement agreement...