Northwestern Mutual Life Insurance Co. v. Linard

OPINION

ROBERT J. WARD, District Judge.

On the night of March 14, 1969 there was an explosion aboard the motor vessel Vainqueur (“Vainqueur”) while the vessel was in the Gulf of Mexico en route from Vera Cruz to New Orleans with a cargo of sugar. The vessel suffered rapid flooding and within one hour it sank beyond salvageable depths. This action, arising from the above incident, was originally commenced by the Northwestern Mutual Life Insurance Company (“Northwestern”), as mortgagee of the Vainqueur, against Vainqueur Corporation, the mortgagor of the Vainqueur, and Auxiliary Power Corporation…