Nova University of Advanced Technology, Inc. v. Motor Vessel Gypsy

MEMORANDUM OPINION AND ORDER DETERMINING PRIORITIES

ATKINS, District Judge.

This case presents consolidated in rem admiralty proceedings against the Motor Vessel Gypsy. Pursuant to Order of this Court entered August 2, 1971, the ship was sold to the highest bidder at a public auction. That sale having been confirmed, the Court must now determine the priorities of the claims of the libelants.

As is so often the case, the available funds will not accommodate every claim. Consequently, issue has been joined on a narrow point which is dispositive of this case.

Nova University is the holder of what…