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INGERSOLL-RAND FINANCIAL CORP. v. EMPLOYERS INS. OF WAUSAU

No. 84-3463.

771 F.2d 910 (1985)

INGERSOLL-RAND FINANCIAL CORP., Plaintiff-Appellee, v. EMPLOYERS INSURANCE OF WAUSAU, a Mutual Co., Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

September 23, 1985.

Attorney(s) appearing for the Case

S. Daniel Meeks, Lawrence E. Abbott, New Orleans, La., for defendant-appellant.

Lugenbuhl, Larzelere & Effefson, Charles E. Lugenbuhl, Stewart F. Peck, New Orleans, La., for plaintiff-appellee.

Before WISDOM, POLITZ, and TATE, Circuit Judges.

TATE, Circuit Judge:

Based upon admiralty and maritime jurisdiction, 28 U.S.C. § 1333, Fed.R.Civ.P. 9(h), the plaintiff-mortgagee ("Ingersoll-Rand") sues the defendant hull insurer ("Employers") of a vessel to recover under a "standard" loss-payee mortgage clause. The hull insurance policy issued to the insured owner-mortgagor ("Mire") of the vessel covered only named perils; these did not include the theft of the vessel. Under the findings of fact of the district...

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