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Lloyd's Syndicate 457, et al v. FloaTEC, L.L.C.
Case Number:
17-20550
Court:
Nature of Suit:
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April 17, 2019
5th Circ. Upholds Engineer's Win In $500M Chevron Rig Suit
The Fifth Circuit on Wednesday affirmed the dismissal of Lloyd's of London underwriters' claims that engineering firm FloaTEC LLC should be held liable for the $500 million they paid to Chevron following the failure of an offshore oil rig, saying those claims are clearly barred by a provision in the energy giant's insurance policy.
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June 11, 2018
Oil Rig Co. Rips Chevron Underwriters' Suit At 5th Circ.
A company that engineered part of a faulty oil rig for Chevron told the Fifth Circuit Friday to uphold the dismissal of a suit brought by Chevron's insurance underwriters, saying the underwriters waived their arbitration rights and that it is shielded from subrogation claims regardless.
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April 13, 2018
Underwriters Push Arbitration In $500M Oil Rig Payout Row
Syndicates of Lloyd's of London who paid out $500 million to Chevron for a Gulf of Mexico oil rig that broke asked the Fifth Circuit on Thursday to kick its reimbursement dispute with rig engineers to arbitration, saying a Texas federal judge should have never weighed in on the merits of the claims because a valid arbitration clause existed.