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MORGAN GUAR. TRUST CO. v. M/V HELLENIC SUN

Civ. A. Nos. N 83-4049, N 83-4047 and N 83-4046.

581 F.Supp. 1266 (1984)

MORGAN GUARANTY TRUST COMPANY OF NEW YORK, et al. v. M/V HELLENIC SUN, et al. CTI-CONTAINER LEASING CORPORATION v. M/V HELLENIC SUN, et al. TRANSAMERICA ICS, INC. v. M/V HELLENIC SUN, et al.

United States District Court, D. Maryland.

March 26, 1984.

Attorney(s) appearing for the Case

William R. Dorsey, and David McI. Williams, of Semmes, Bowen & Semmes, of Baltimore, Md., and John J. Loflin of Lord, Day & Lord, New York City, for plaintiff Morgan Guar. Trust Co.

John T. Ward, and Kieron Quinn, of Ober, Kaler, Grimes & Shriver, Baltimore, Md., for plaintiffs CTI-Container Leasing Corp. and Transamerica ICS, Inc.

Edward Gilliss, Baltimore, Md., for plaintiff Texaco.

William Ryan, of Whiteford, Taylor, Preston, Trimble & Johnston, Baltimore, Md., for plaintiffs Mobil and Itel Containers Co., Inc.

James Skeen, of Constable, Alexander, Daneker & Skeen, of Baltimore, Md., for plaintiff Seaco, Inc.

William C. Stifler, III, of Niles, Barton & Wilmer, Baltimore, Md., for plaintiff ITO Co., Inc.

Alan Van Praag, and Patrick Pike, of Poles, Tublin & Patestides, New York City and Douglas Schoettinger, of Smith, Somerville & Case, Baltimore, Md., for M/V HELLENIC SUN and Hellenic Lines, Inc., defendants.

NORTHROP, Senior District Judge.

Presently before this Court is a motion to set aside the sale of the M/V HELLENIC SUN. By Order of this Court, the vessel was sold on February 8, 1984 for a price of $4 million. The purchaser was the sole bidder, Morgan Guaranty Trust Company, as agent for the other syndicate banks. Counsel for the M/V HELLENIC SUN and her owner, Hellenic Lines, Inc., (hereinafter collectively referred to as "Hellenic"), now challenge the confirmation...

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