HYUNDAI CORP. v. HULL INS. PROCEEDS OF M/V VULCA

Civ.A. No. 90-1589 (HAA).

800 F.Supp. 124 (1992)

HYUNDAI CORP., U.S.A., and Inchon Iron & Steel Co., Ltd., Plaintiffs, v. The HULL INSURANCE PROCEEDS OF the M/V VULCA, and Vulcan Navigation Corp. and Hyundai Merchant Marine Co., Ltd., Defendants.

United States District Court, D. New Jersey.

August 10, 1992.


Attorney(s) appearing for the Case

Stephen V. Rible, Bigham, Englar, Jones & Houston, Newark, N.J., for plaintiffs.

Michael J. Ryan, Hill, Betts & Nash, Jersey City, N.J., for defendants.


OPINION

HAROLD A. ACKERMAN, District Judge.

On December 31, the M/V Vulca ("Vulca"), on sail from New Jersey to South Korea, sank in the Pacific Ocean approximately 700 miles northeast of Hawaii. The sinking resulted in the complete loss of all cargo on the ship, and this cause of action springs from that loss. Currently before the court is a motion by defendant Hyundai Merchant Marine Co. ("Merchant Marine") for summary judgment pursuant to Fed. R.Civ.P...

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