BP Argues Exxon Should Pay for Damages from Brooklyn Oil Spill

A Second Circuit judge on Wednesday was skeptical that Exxon Mobil Corp. was required to defend BP Products North America in multiple lawsuits seeking more than $1 billion for damages caused by a Brooklyn oil spill.

BP says its legal fees and any losses incurred from the 23 personal injury and property damage lawsuits after petroleum had migrated under residential and commercial properties in Brooklyn’s Greenpoint neighborhood should have been completely covered by Exxon, based on a decades-old agreement between the two companies. But Judge Michael Park noted there’s a difference between indemnity requirements in insurance policies and those in ...