Advertisement
YOU ARE HERE: LAT HomeCollectionsSuits

BRIEFLY

Energy

June 11, 1996|Times Staff and Wire Reports

Exxon Wins $250-Million Verdict in Valdez Suit: A Houston jury issued its decision in favor of the oil giant in the suit against Lloyd's of London stemming from unpaid insurance claims from the Exxon Valdez oil spill. The state court verdict, which still must be approved by the U.S. District Court in Houston, would allow Exxon to continue with a separate suit alleging Lloyd's acted in bad faith by not paying claims from two policies held by the oil company, the nation's largest. Irving, Texas-based Exxon has paid $2.5 billion to clean up more than 11 million gallons of crude oil spilled into Alaska's Prince William Sound when the Valdez ran aground in 1989, one of the worst environmental disasters in the U.S.

Advertisement
Los Angeles Times Articles
|
|
|