ITT INDUS. CREDIT CO. v. M/V RICHARD C

No. 83-655.

617 F.Supp. 761 (1985)

ITT INDUSTRIAL CREDIT COMPANY v. The M/V RICHARD C, et al.

United States District Court, E.D. Louisiana.

September 13, 1985.


Attorney(s) appearing for the Case

Adams & Reese, John M. Duck, Liskow & Lewis, William W. Pugh, Charles M. Steen, New Orleans, La., for Smatco, Inc.

A.J. Schmitt Jr., Schmitt & Mathes, New Orleans, La., David J. Balduf, Biloxi, Miss., for Kennedy Engine Co. Inc.

Jackson & Stovall, James E. Stovall, New Orleans, La., for Lombas Industries, Inc.


OPINION

ARCENEAUX, District Judge.

Plaintiff, ITT Industrial Credit Company ("ITT"), instituted this suit in admiralty to foreclose on an alleged Preferred Ship Mortgage on the M/V RICHARD C, which mortgage allegedly secures the payment and performance of a promissory note in the original principal amount of $900,000.00, executed by defendant Leonard J. Camaille ("Camaille") and guaranteed by defendant Gulf Outlet Marine Services, Inc., ("GOMS"). The

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