In the Matter Of: Biloxi Casino Belle Inc., Debtor. First American Title Insurance Co. v. First Trust National Association

KING, Chief Judge:

The bankruptcy court held that the title insurance policy issued to Appellee First Trust National Association (“First Trust”) insured First Trust’s security interest in a casino boat being constructed at a location remote from the insured land where the boat would eventually be moored. The district court affirmed. Finding that the policy does not provide coverage, we reverse and remand.

I. FACTUAL AND PROCEDURAL BACKGROUND

This insurance coverage dispute has its roots in Belle Casinos, Inc.’s (“BCI’s”) failed effort to build two gambling developments in Mississippi. Since…