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INTERNATIONAL PAINT CO., INC. v. M/V MISSION VIKING

No. 79-1965.

637 F.2d 382 (1981)

INTERNATIONAL PAINT COMPANY, INC. et al., Plaintiffs-Appellees, v. M/V MISSION VIKING, In Rem, and A. Martin Industries, a Louisiana Corp., Defendants. MANUFACTURERS HANOVER LEASING CORP., Intervenor-Appellant, Cross-Appellee, v. ALEXANDER INDUSTRIES, INC. et al., Intervenors-Appellees, Foods & Services, Inc., Intervenor-Appellee, Cross-Appellant.

United States Court of Appeals, Fifth Circuit. Unit B

February 19, 1981.

Attorney(s) appearing for the Case

Abram L. Philips, Jr., Patricia K. Olney, Mobile, Ala., Terriberry, Carroll, Yancey & Farrell, New Orleans, La., for Manufacturers Hanover Leasing Corp.

Jack M. Alltmont, New Orleans, La., for Foods & Services, Inc.

G. Hamp Uzzelle, III, Mobile, Ala., for Alexander, Mobile & Drew Chem.

J. George Whitfield, Jr., Mobile, Ala., for Int'l & Marine Supplies.

Donald J. Stewart, Mobile, Ala., for Gulf Welding.

William S. Shulman, Mobile, Ala., for ITT MacKay Marine.

Frank G. Taylor, Mobile, Ala., for Comm. Industr.

G. Sage Lyons, John Patrick Courtney, III, Mobile, Ala., for Ala. State Docks Dept.

Robert J. Oberfell, New Orleans, La., for Hydril Co. Sub Sea.

Before GODBOLD, TJOFLAT and VANCE, Circuit Judges.

GODBOLD, Circuit Judge:

This case concerns the ranking of liens on the libeled vessel Mission Viking. Manufacturers Hanover Leasing Corp. (MHLC) held a first preferred ship mortgage on the vessel. It bought the ship at foreclosure sale by bidding on the credit of its mortgage, agreeing that it would pay any claims adjudicated superior in priority. The district court held that the mortgage instrument waived MHLC's priority...

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