METZNER, District Judge.
This proceeding arises in the aftermath of the much-publicized stranding and sinking of the tanker Torrey Canyon off the southwest coast of England in March 1967. The tanker had departed from the Persian Gulf, bound for Milford Haven, Wales, with a cargo of 119,328 tons of crude oil. The stranded ship was eventually bombed and sunk by the Royal Air Force, causing the complete loss of both ship and cargo, but not before a substantial amount...
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