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BARNOUW v. S.S. OZARK

No. 19347.

304 F.2d 717 (1962)

In the Matter of Willem C. BARNOUW and Nanette E. L. Murnan, Trustees for Bondholders and Mortgagees, and Wall Street Traders, Inc., Bondholders, et al., Libelants, v. The S.S. OZARK, Her Engines, Boilers, Machinery, Tackle, Apparel, Furniture, etc., Respondent.

United States Court of Appeals Fifth Circuit.

Rehearing Denied July 26, 1962.

Attorney(s) appearing for the Case

Newton B. Schwartz, T. G. Schirmeyer, L. G. Kratochvil, Houston, Tex., Richard Gyory, New York City, for appellants.

Robert Eikel, Houston, Tex., Theodore Goller, Jr., Houston, Tex., of counsel, for Socony Mobil Oil Co.

George W. Renaudin, Houston, Tex., Royston, Rayzor & Cook, Houston, Tex., of counsel, for Societe Algerienne Des Petroles Mory.

L. J. Benckenstein, Beaumont, Tex., Benckenstein & Benckenstein, Beaumont, Tex., of counsel, for Texaco, Inc.

Stein, Bennett & Shepley, Houston, Tex., Cooper, Ostrin, DeVarco & Ackerman, Richard Gyory, New York City, of counsel, for Willem C. Barnouw, Nanette E. L. Murnan and Wall Street Traders, Inc.

Before TUTTLE, Chief Judge, and RIVES and BROWN, Circuit Judges.

JOHN R. BROWN, Circuit Judge.

We deal again with the race for priority between a preferred maritime mortgage and a traditional maritime lien. This turns finally on whether an earlier mortgage was extinguished so that the subsequent mortgage must be deemed an entirely new and unrelated security subsequent in point of time to existing maritime liens. Two additional issues are presented concerning supremacy of a preferred maritime mortgage over a lien created by foreign...

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