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GULF OIL TRADING CO. v. CREOLE SUPPLY

No. 225, Docket No. 78-7276.

596 F.2d 515 (1979)

GULF OIL TRADING COMPANY, Plaintiff-Appellee, v. CREOLE SUPPLY and Creole Shipping Ltd., in personam, and the freights and charterhire of the M/V PYRAMID VIKING and M/V PYRAMID VETERAN, in rem, Defendants, v. The CHASE MANHATTAN BANK, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided February 26, 1979.

On Rehearing April 25, 1979.

Attorney(s) appearing for the Case

John J. Reilly, New York City (Gary D. Sesser, Haight, Gardner, Poor & Havens and Milbank, Tweed, Hadley & McCloy, New York City, of counsel), for defendant-appellant.

Robert J. Zapf, New York City (Burlingham, Underwood & Lord, New York City, of counsel), for plaintiff-appellee.

Before MOORE, FRIENDLY and GURFEIN, Circuit Judges.

GURFEIN, Circuit Judge:

The District Court for the Southern District of New York (Hon. Charles L. Brieant) entered judgment after a non-jury trial for $294,310 in favor of Gulf Oil Trading Company ("Gulf") against the Chase Manhattan Bank, N.A. ("Chase"), by imposing a constructive trust on freights and proceeds arising from the sale of two vessels, M/V PYRAMID VIKING and M/V PYRAMID VETERAN ("the vessels"), upon foreclosure in the Bahamas of the Chase preferred ship...

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