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ZAPATA CORP. v. ZAPATA GULF MARINE CORP.

No. 01-96-01018-CV.

986 S.W.2d 785 (1999)

ZAPATA CORPORATION and Arethusa Off-Shore Co., Appellants, v. ZAPATA GULF MARINE CORPORATION, Appellee.

Court of Appeals of Texas, Houston (1st Dist.).

February 11, 1999.

Attorney(s) appearing for the Case

William R. Burke, Jr., Houston, for appellant.

Charles E. Frost, Jr., Houston, for appellee.

Panel consists of Chief Justice SCHNEIDER and Justices O'CONNOR and ANDELL.

OPINION

ANDELL, J.

The appellants, Zapata Corporation and Arethusa, appeal rendition of summary judgment for the appellee, Zapata Gulf Marine Corporation (ZGMC). We affirm.

Facts

The appellants and ZGMC jointly acquired an aggregate insurance policy that covered the interests of the companies up to total losses of $16.5 million, after a total retention of $500,000. The three companies agreed on a formula for sharing the premium costs and...

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