James N. Avant v. Submersible Rig Peter Duncan 6 (Ruhr Drilling Corporation), and National Surety Corporation, Intervenor-Appellant

RONEY, Circuit Judge:

At issue on this appeal is the validity of a bond posted with the district court for the release of a vessel attached for seamen’s wages. The bond was issued by an agent whose authority had been revoked several years earlier by the bonding company. The district court found that the equities favored the innocent seamen plaintiffs as against the innocent insurance company. We affirm.

This is a case where proper action by either party could have prevented the loss. Both are innocent of the perpetration of any fraud. The agent who ap parently should suffer the loss is not a…