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PAN AMERICAN PETROLEUM CORPORATION v. LONG

No. 21159.

340 F.2d 211 (1964)

PAN AMERICAN PETROLEUM CORPORATION and Socony Mobil Oil Company, Inc., Appellants, v. W. W. LONG et al., Appellees. SOUTHWESTERN LIFE INSURANCE COMPANY and Valley Royalty Corporation, Appellants, v. PAN AMERICAN PETROLEUM CORPORATION and Socony Mobil Oil Company, Inc., Appellees.

United States Court of Appeals Fifth Circuit.

Rehearing Denied March 3, 1965.

Attorney(s) appearing for the Case

J. K. Smith, Fort Worth, Tex., Roy L. Merrill, Houston, Tex., Jack W. Flock, Charles F. Potter, Tyler, Tex., Wardlow L. Lane, Center, Tex., R. T. Wilkinson, Jr., Houston, Tex., Ramey, Brelsford, Hull & Flock, Tyler, Tex., Spruiell, Lowery, Potter, Laster & Guinn, Tyler, Tex., for appellants.

John W. Ford, Kilgore, Tex., James P. Swift, Paul McCarroll and Swift, Walsh, McCarroll & Wood, Dallas, Tex., for appellee.

Robert S. Mizell, Golden, Croley, Howell, Johnson & Mizell, Dallas, Tex., amici curiae.

Before RIVES and BROWN, Circuit Judges, and GARZA, District Judge.

JOHN R. BROWN, Circuit Judge:

This case is another chapter in the litigation arising out of the recent slant hole oil episode in the East Texas field, this time involving two parties innocent of any purposeful wrongdoing. The question here is whether the slanted-on oil company may recover from a financial institution the proceeds of the stolen oil received by it from the purchasing pipelines in payment of loans and production payments made to or purchased from the...

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