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INLAND CREDIT CORP. v. M/T BOW EGRET

No. 74-3195.

552 F.2d 1148 (1977)

INLAND CREDIT CORPORATION, Plaintiff-Appellant-Cross Appellee, v. M/T BOW EGRET, her engines, machinery, nets, tackle, apparel and furniture, and Bow Egret Tanker Corporation, her owner, Defendants, v. Constance R. EARLE, Intervenor-Appellee-Cross Appellant, v. Peter KENNARD, Intervenor-Appellee-Cross Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied July 29, 1977.

Attorney(s) appearing for the Case

J. Michael Mahaffey, Corpus Christi, Tex., for Inland Credit.

Ben H. Sheppard, Jr., Houston, Tex., for Earle.

H. T. Hermansen, Jr., Corpus Christi, Tex., for Kennard.

J. Donald Stillwell, Houston, Tex., for M/T Bow.

Robert M. Julian, Houston, Tex., for Shell Oil.

Before TUTTLE, GOLDBERG and CLARK, Circuit Judges.

Rehearing Denied July 29, 1977. See 556 F.2d 756.

TUTTLE, Circuit Judge:

The economic travails of the M/T Bow Egret now compel this Court to review the trial court's effort to perform the familiar judicial task of dividing the limited resources of a debtor among competing creditors. The Bow Egret's journey began with its purchase by the Bow Egret Tanker Corporation (hereinafter Tanker Corporation). Tanker Corporation obtained...

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