Texaco, Inc. v. Shaw-Trosclair Fabricators, Inc.

ROBERT F. COLLINS, District Judge.

This matter is before the Court based on a Joint Stipulation of Facts and a Supplemental Joint Stipulation of Facts submitted by Terrebonne Bank and Trust Company of Houma, Louisiana (TBT) and Southern Imperial Coatings, Inc. (Southern). Consequently, there is no factual dispute between the parties. Final arguments were heard on March 25, 1987.

Facts

This litigation initially began as three separate interpleader actions filed by Texaco, Inc. (formerly Getty), Chevron U.S.A., and Cities Service Oil & Gas Company. All of these companies owed money to…