While the rig crew was pulling out of the hole with 5 inch drill pipe (8 stands into trip) to retrieve storm packer, the blocks were being lowered to latch onto another stand and pull it out of the hole. When the driller applied the electric brake he immediately noticed that it was not working. He then applied the manual drawworks brakes attempting to stop the blocks. His efforts slowed but did not stop the blocks from contacting the drill pipe in the slips. The top drive saver sub landed on the drill pipe and the elevators and bails hit the rig floor and slid towards the drawworks. The drilling line continued to spool off of the drawworks drum. According to their training, the floormen had been standing back watching the blocks descend and thus were out of harm’s way when the incident occurred.