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SHARMA v. SKAARUP SHIP MANAGEMENT CORP.

Nos. 1085, 1086, Dockets 89-9191, 90-7015.

916 F.2d 820 (1990)

Birendra Mohan SHARMA, Astral Holding Corporation, Freesia Shipping Corporation, Sun Lily Maritime Inc., Doman Tankers Inc., and Zodiac Finance Corporation, Plaintiffs-Appellants, v. SKAARUP SHIP MANAGEMENT CORPORATION, Ole Skaarup, Bent Larson and Chemical Bank, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided October 17, 1990.

Attorney(s) appearing for the Case

Paul F. Doyle (Sarah L. Reid, Kelley Drye & Warren, New York City, of counsel), for plaintiffs-appellants.

David H. Braff (William M. Dallas, Jr., Sullivan & Cromwell, New York City, of counsel), for defendants-appellees Skaarup Ship Management Corp. and Ole Skaarup.

Henry Lewis Goodman (Harold N. Schwinger, Menachem O. Zelmanovitz, Margot B. Schonholtz, Jay Teitelbaum, Zalkin, Rodin & Goodman, New York City, of counsel), for defendant-appellee Chemical Bank.

Before OAKES, MINER and WINTER, Circuit Judges.

WINTER, Circuit Judge:

This appeal arises out of an action for the alleged breach of a financing agreement concerning three vessels. This agreement was between defendant-appellee Chemical Bank and plaintiffs-appellants Birendra Mohan Sharma ("Mr. Sharma"), Astral Holding Corp. ("Astral"), Freesia Shipping Corp. ("Freesia"), Sun Lily Maritime Inc. ("Sun Lily"), Doman Tankers Inc. ("Doman"), and Zodiac Finance Corp. ("Zodiac"). Appellants claim that Chemical Bank breached...

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