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IN RE CHARTER CO.

Bankruptcy Nos. 84-289-BK-J-GP through 84-332-BK-J-GP, Adv. No. 84-261.

56 B.R. 91 (1985)

In re The CHARTER COMPANY, et al., Debtors. PANOCEAN SOUTHLAND INCORPORATED, Plaintiff, v. CHARTER INTERNATIONAL OIL COMPANY, Defendant.

United States Bankruptcy Court, M.D. Florida, Jacksonville Division.

As Corrected December 17, 1985.

Attorney(s) appearing for the Case

Morton G. Forbes, Savannah, Ga., for plaintiff.

Russell D. Castleberry, Jacksonville, Fla., for defendant.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

GEORGE L. PROCTOR, Bankruptcy Judge.

Introduction

The plaintiff, Panocean Southland Incorporated ("PSI"), commenced this adversary proceeding by filing a complaint to determine extent and validity of lien (the "Complaint") on November 9, 1984. In response to the Complaint, the debtor, Charter International Oil Company ("CIOC"), filed its amended answer, affirmative defense and counterclaim on March...

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