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MATTER OF TOPGALLANT LINES, INC.

Nos. CV 492-053 to 492-056 and CV 492-092.

154 B.R. 368 (1993)

In the Matter of TOPGALLANT LINES, INC., Debtor. McALLISTER TOWING, et al., Appellant and Cross-Appellee, v. AMBASSADOR FACTORS, DIVISION FLEET FACTORS CORPORATION, Appellee and Cross-Appellant. ITEL CONTAINERS, Appellant and Cross-Appellee, v. AMBASSADOR FACTORS, DIVISION FLEET FACTORS CORPORATION, Appellee and Cross-Appellant. CERES MARINE TERMINALS, et al., Appellant and Cross-Appellee, v. AMBASSADOR FACTORS, DIVISION FLEET FACTORS CORPORATION, Appellee and Cross-Appellant. FIRST AMERICAN BULK CARRIER CORPORATION, et al., Appellant and Cross-Appellee, v. AMBASSADOR FACTORS, DIVISION FLEET FACTORS CORPORATION, Appellee and Cross-Appellant. EUROPE COMBINE TERMINALS, et al., Appellant and Cross-Appellee, v. AMBASSADOR FACTORS, DIVISION FLEET FACTORS CORPORATION, Appellee and Cross-Appellant.

United States District Court, S.D. Georgia, Savannah Division.

April 27, 1993.

Attorney(s) appearing for the Case

Gordon D. Schreck, Charleston, SC, George H. Chamlee, Savannah, GA, Robert S. Glenn, Jr., Savannah, GA, Kathleen Horne, Mark Bulovic, Savannah, GA.

John M. Tatum, Savannah, GA, Joseph Moscou, Mineola, NY.

ORDER AND MEMORANDUM

NANGLE, District Judge.

Ambassador Factors, the appellee/cross-appellant, appeals the February 4, 1991, decision of the bankruptcy court1 which granted appellants' Motion for Summary Judgment on the ground that valid maritime liens are superior to perfected Uniform Commercial Code (UCC) security interests in the same collateral. See In the Matter of Topgallant Lines, Inc., 125...

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