IN RE NATIONAL MOTORSHIP CORPORATION

No. 254.

96 F.2d 88 (1938)

In re NATIONAL MOTORSHIP CORPORATION.

Circuit Court of Appeals, Second Circuit.

April 4, 1938.


Attorney(s) appearing for the Case

Edwin R. Wolff, of New York City, for appellant.

Courtland Palmer, of New York City (Francis J. Ryan, Jr., of New York City, of counsel), for appellee.

Before MANTON, L. HAND, and SWAN, Circuit Judges.


MANTON, Circuit Judge.

In a suit in admiralty for collision damages against the debtor's vessel Detroiter, brought by the Arundel Corporation, owner of the drill boat East River, the appellant on January 12, 1932, gave a stipulation for value up to $35,000 and thus procured the release of the debtor's vessel which had been seized. The United States held a preferred mortgage on the Detroiter at that time which provided that insurance taken out by the debtor should...

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