ATLANTIC NAVIGATION CORP. v. TRADER SHPG. CORP.

No. 952, Docket 79-7061.

603 F.2d 401 (1979)

In the Matter of the Arbitration between ATLANTIC NAVIGATION CORPORATION, LTD., as Buyer of the M.V. THERESA, Petitioner-Appellant, and TRADER SHIPPING CORPORATION, as seller of the M.V. THERESA, Respondent-Appellee.

United States Court of Appeals, Second Circuit.

Decided July 30, 1979.


Attorney(s) appearing for the Case

Glen T. Oxton, New York City (Nicholas J. Healy, Jr., Walter I. Skinner, and Healy & Baillie, New York City, of counsel), for petitioner-appellant.

Stephen P. Kyne, New York City (Raymond J. Burke, Thomas A. Dillon, Jr., and Burke & Parsons, New York City, of counsel), for respondent-appellee.

Before GURFEIN and MESKILL, Circuit Judges, and WYZANSKI, Senior District Judge.


PER CURIAM:

Appellant, Atlantic Navigation Corporation, Inc. (Atlantic) entered into a sales agreement with Trader Shipping Corporation (Trader) under which Atlantic agreed to purchase the vessel M.V. THERESA from Trader for an initial cash payment and a note for the balance, secured by a first mortgage on the vessel. The sales agreement also required that insurance be carried on the vessel against various risks. It stated that such insurance "may provide for a maximum...

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