In re the Arbitration between Transpacific Transport Corp. & Sirena Shipping Co., S. A.

Motion for an order compelling the respondent to proceed with arbitration pursuant to a written agreement under the terms of the contract, made on January 23, 1958, in the City of Montreal, Province of Quebec. The petitioner agreed to buy a Liberty steamship named “ Lomaland ” from the respondent for the purchase price of $487,500. The agreement stipulates that the buyer shall have the option to cancel the agreement, should the vessel not be ready for delivery by May 31, 1958. It further provides for prior inspection in drydock at the port of delivery.

On May 30, 1958, petitioner took delivery…