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IN RE PLACID OIL CO.

Bankruptcy No. 385-33419-A-11.

72 B.R. 135 (1987)

In re PLACID OIL COMPANY, Debtor.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

April 7, 1987.

Attorney(s) appearing for the Case

Henry W. Simon, Jr., Sterling Steves, Simon, Anisman, Doby, Wilson & Skillern, Fort Worth, Tex., for Placid Oil Co., debtor.

Richard G. Dafoe, Vial, Hamilton, Koch & Knox, Dallas, Tex., for American Independent Underwriters Corp., plaintiff.

MEMORANDUM OPINION

HAROLD C. ABRAMSON, Bankruptcy Judge.

This proceeding involves the characterization of what has been described as a self insurance program. The agreement, styled "Hunt Consolidated Master Plan Premium Agreement" (the "Premium Agreement"), satisfies certain state law insurance requirements applicable to Placid Oil Company (the "Debtor") and to Penrod Drilling Company. Underlying the Premium Agreement were various insurance policies covering...

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