The Fifth Circuit Court of Appeals affirmed the district court's holding that under the Texas Oilfield Anti-Indemnity Act and Texas Supreme Court precedent the "lowest common denominator" rule applied to determine the amount of liability insurance available to support mutual indemnity obligations where one party to the MSA procured the minimum amount required while the other procured substantially more because the MSA's minimum insurance requirement set both the ceiling and floor of available indemnity supported by insurance.
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