Walter E. Heller & Co. v. O/S Sonny V.

WISDOM, Circuit Judge:

Yance Trawlers, Inc., and J. B. Vance, defendants, appeal from judgments entered against them in an action on a promissory note and a preferred ship’s mortgage on the O/S SONNY V. The plaintiff-appellee, Walter E. Heller and Company (“Heller”), foreclosed on the mortgage and purchased the SONNY V at an interlocutory judicial sale. The district court entered a summary judgment against J. B. Vance and a partial summary judgment against Vance Trawlers in the Company’s deficiency suit on the promissory note, giving the defendants a credit in the amount of the purchase price…