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PRUDENTIAL INS. CO. OF AM. v. S.S. AMERICAN LANCER

No. 87 Civ. 5842.

686 F.Supp. 469 (1988)

The PRUDENTIAL INSURANCE COMPANY OF AMERICA, Plaintiff, v. S.S. AMERICAN LANCER, S.S. AMERICAN AQUARIUS, S.S. AMERICAN APOLLO, S.S. AMERICAN LYNX and S.S. AMERICAN ASTRONAUT, their engines, tackle apparel, furnishings, equipment and appurtenances, in rem, Defendants. and All Related Claims to Vessels and Complaints-in-Intervention.

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

June 13, 1988.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges, New York City (Corinne Ball, Judy G.Z. Liu, Kevin P. Hughes, of counsel), McCutchen, Black, Verleger & Shea, Los Angeles, Cal. (Sheldon A. Gebb, of counsel), for plaintiff.

Freehill, Hogan & Mahar, New York City (Nathan J. Bayer, Eugene J. O'Connor, Jr., Alexander F. Vitale, of counsel), Kelley Drye & Warren, New York City (Sandra E. Mayerson, of counsel), for defendants.

MEMORANDUM AND ORDER IN ADMIRALTY

OWEN, District Judge:

General Electric Capital Corporation (GECC) holds a second mortgage on the U.S. Lines Lancer vessels. It moves for partial summary judgment declaring that Prudential Insurance Company's $92,885,000. first mortgage on eight Lancer vessels enjoys preferred status under the Ship Mortgage Act, 46 U.S.C. §§ 911 et seq. only to the extent of $92,885 due to a typographical error in a loan...

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