American Export Lines, Inc. v. United States

WEINFELD, District Judge.

The libelant, contending that no triable issues of material fact exist, moves for summary judgment, declaring, with respect to the charter-party between it and the respondent, (1) that in the calculation of “net voyage profits,” the profits and losses over the entire charter period are to be determined by the so-called “cumulative accounting” method, and (2) that libelant is entitled, under the charter and the applicable statute, to a ten per cent return on its “capital necessarily employed” in the operation of the chartered vessel in “an amount to be agreed, or in…