Hanover Insurance Company v. Tyco Industries, Inc., and J. Douglas Corey, Trustee In-Bankruptcy of Parkway Industries Company

OPINION OF THE COURT

SEITZ, Chief Judge.

This interpleader action was instituted to resolve conflicting claims to the proceeds of a policy issued by Hanover Insurance Company (“Hanover”) insuring Parkway Industries (“Parkway”) generally against loss .or theft of its property. Appeal is taken by Tyco Industries (“Tyco”), one of the claimants, from the district court’s entry of summary judgment in favor of the Trustee in Bankruptcy for Parkway, the only other claimant to the insurance proceeds. The factual background for this action is, briefly, as follows.

Parkway agreed to purchase toys from…