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WESTINGHOUSE CREDIT CORP. v. M/V NEW ORLEANS

No. 91-4697.

39 F.3d 553 (1994)

WESTINGHOUSE CREDIT CORP., Plaintiff, Third Party Plaintiff, v. M/V NEW ORLEANS, her engines, tackle, apparel, etc., in rem, et al., Defendants, Kenner Marine & Machinery, Inc., et al., Defendants-Appellees, POWER SYSTEMS DIESEL, INC., and Vener Marine, Ltd., Defendants, Third Party Plaintiffs-Appellees, v. DOUGLAS MARINE SERVICE, INC., Third Party Defendant, v. ATLAS ASSURANCE CO., JNT Fleet, Inc., Third Party Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied January 3, 1995.

Attorney(s) appearing for the Case

Alanson T. Chenault, IV, New Orleans, LA, for appellants.

Louis R. Koerner, Jr., New Orleans, LA, for Power Systems and Vener Marine, Ltd.

William S. Culver, Jr., Randolph J. Waits, Emmett, Cobb, Waits & Kessenich, P.C., New Orleans, LA, for Kenner Marine, et al.

Before REYNALDO G. GARZA, HIGGINBOTHAM and DeMOSS, Circuit Judges.

DeMOSS, Circuit Judge:

I.

Kenner Marine & Machinery, Inc. agreed to sell the dredge NEW ORLEANS to Willie C. Starling, Sr. and Starling Enterprises, Inc. Westinghouse Credit Corp. financed $600,000 of the purchase price and secured its loan with a preferred ship mortgage. Westinghouse agreed with Kenner Marine that, if Starling defaulted, Westinghouse would foreclose on the NEW ORLEANS and purchase the dredge at a federal marshal's sale. Kenner Marine...

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