2nd Circ. Asked To Undo Approval Of Phillips 66's $44M Award

Law360 (September 3, 2020, 5:07 PM EDT) -- An insurer has told the Second Circuit that a lower court wrongly granted Phillips 66's bid to confirm an arbitration award that forces it to cover nearly $44 million in settlements over a gasoline additive that pollutes groundwater, saying the arbitrators rewrote the contract to lower the bar for the refiner's claims.

German insurance company HDI Global SE said Wednesday that a divided arbitration panel issued a ruling that allowed the energy company to uniformly benefit from an exception in the policy that provided coverage for the "end use" of its product, reading a coverage exception entirely out of the policy....

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