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IN RE STERLING NAVIGATION CO., LTD.

Bankruptcy No. 75 B 1955 (EJR).

15 B.R. 489 (1981)

In re STERLING NAVIGATION CO., LTD., Bankrupt. COUNCIL COMMERCE CORPORATION, Plaintiff, v. STERLING NAVIGATION CO., LTD., A/S Gerrards Rederi, a Corporation, and Agency for International Development, Defendants.

United States Bankruptcy Court, S.D. New York.

November 18, 1981.

Attorney(s) appearing for the Case

Zalkin, Rodin & Goodman, New York City, for Sterling Navigation Co., Ltd.

Freehill, Hogan & Mahar, New York City, for A/S Gerrards Rederi.

DECISION ON MOTION AND CROSS-MOTION FOR SUMMARY JUDGMENT

EDWARD J. RYAN, Bankruptcy Judge.

On October 28, 1975, Sterling Navigation Co. ("Sterling") filed a petition under Chapter XI of the Bankruptcy Act and was thereafter, on December 17, 1975 adjudicated a bankrupt. On February 23, 1976, an involuntary petition in bankruptcy was filed against Sovereign Marine Lines, Inc. ("Sovereign"), and on March 22, 1976, Sovereign was adjudicated a bankrupt. The Sovereign...

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