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To: cAPSLOCK who wrote (4675)	3/11/1999 12:34:00 PM
From: Hunter Vann	Respond to of 4736

All jokes aside, this is the FUNNIEST thing I've read on the internet so far. I can just see Ebeling now trying to explain this to the Cigna lawyers. Thanks Bob, you've made my day! I can't help it, I just have to copy/paste it..... On its maiden voyage, with the insurance in place, the yacht Principe sank off the coast of Italy. DeGeorge and two companions, Paul Ebeling and Gabriel Falco, were on board at the time. Ebeling had also been on board one of De- George's other ill-fated yachts, the Epinicia, which also sank off the coast of Italy. Ebeling, who controlled Tridon during the Tridon/Polaris/DeGeorge stock swap, was now CEO of Polaris. According to Ebeling and DeGeorge, the Principe was intentionally sunk by Sicilian drug runners posing as a trial crew for the Principe and seeking to escape from the Italian coast guard. As the story goes, the Principe was being cap- tained by Andrea Libovich, a Yugoslavian sailor trained in the Russian navy. Ebeling and DeGeorge had met Libovich at a dockside cafe in Naples. They had previously discharged the captain provided by the ship's builder, and decided to give Libovich a shot at the captain's job with a test run on the yacht. Libovich brought along two crewmen to help run the yacht. Although this was originally to be only a short test run, Libovich and his two crewmen each brought along two large, tightly stuffed, black duffle bags. Once the Principe was underway, the test run was extended overnight. During the night, the crew, brandishing guns, forced DeGeorge, Ebeling and Falco into one of the staterooms while Libovich or his crew drilled holes in the hull of the ship. Libovich told De- George he was going to sink the ship. In spite of the water then supposedly pouring into the ship's hull, Libovich spent the next four hours talking on the phone. Finally, at 6:00 a.m., Libovich and his crew, along with their six duffle bags, left the Principe and boarded a speed boat, 12262 which whisked them away on a course headed for the Libyan coast. DeGeorge, Ebeling, and Falco were left to perish on the now doomed Principe. Fortunately, the three were able to get into a small skiff and avoid being consumed by sharks infest- ing the local waters. The men remained in the area, watching as the Principe slowly descended into the sea. The Italian coast guard happened by at about 12:30 p.m. By that time, only the radar unit of the Principe remained above the water. Although the Italians were able to raise the sinking yacht and tow it into port, the ill-fated Principe sank again while at the dock. When it was raised three days later, it was a total loss. Polaris and Inbanco filed claims for the loss of the Principe. Cigna refused to pay the claims and instead sued for rescission of the insurance contract because neither Polaris nor Inbanco had disclosed material facts such as DeGeorge's loss history or the close ties among all the parties involved in the ownership of the Principe. Polaris and Inbanco counter- claimed against Cigna, Allen and Alliance claiming, among other things, breach of contract and breach of the implied cov- enant of good faith and fair dealing.