MONTE CHRISTO DRILLING CORP. v. UNIVERSAL INSURANCE CO.

No. 24057.

376 F.2d 61 (1967)

MONTE CHRISTO DRILLING CORPORATION, Appellant, v. UNIVERSAL INSURANCE COMPANY et al., Appellees.

United States Court of Appeals Fifth Circuit.

Rehearing Denied June 1, 1967.


Attorney(s) appearing for the Case

Morris Atlas, Gary Gurwitz, McAllen, Tex., Atlas, Schwarz, Gurwitz & Bland, McAllen, Tex., for appellant.

Owen D. Cox, Corpus Christi, Tex., Franklin D. Houser, San Antonio, Tex., Boone, Davis, Cox & Hale, Corpus Christi, Tex., Donald G. Gay, Spafford, Freedman, Hamlin, Gay & Whitham, Dallas, Tex., for appellees.

Before BELL and GODBOLD, Circuit Judges, and NOEL, District Judge.


GODBOLD, Circuit Judge:

Monte Christo Drilling Corporation took out with Universal Insurance Company a policy titled "Special Oil and Gas Drilling Equipment Policy" covering designated oil well drilling equipment against direct physical loss or damage by various perils.1

When Monte Christo suffered the loss here in question its mast or derrrick2 had been raised and put into an upright position and drilling...

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