Legal Opinion
Sea Prestigio, LLC v. M/Y Triton
District Court, S.D. California
Decided April 11, 2011No. 10cv2412-BTM (AJB)Published
1Opinion of the Court
ORDER RE APPLICATION TO STAY ACTION
BARRY TED MOSKOWITZ, District Judge.
Defendants move to stay the instant action. For the following reasons, Defendants’ application is GRANTED.
I. BACKGROUND
On June 30, 2010, the parties executed a loan agreement whereby Plaintiff Sea Prestigio, LLC, would loan Defendants $21 million in two disbursements. Defendants executed a promissory note in the principal sum of $21 million concurrently with the loan agreement. To secure payment, Defendants granted Plaintiff a preferred ship’s mortgage on the M/Y TRITON (“the vessel”), a 163-foot yacht, which would allow…
2Cases cited5 opinions
- Moses H. Cone Memorial Hospital v. Mercury Construction Corp.Supreme Court of the United States · 1983
- Colorado River Water Conservation District v. United StatesSupreme Court of the United States · 1976
- American International Underwriters, (Philippines), Inc., a Philippines Corporation v. The Continental Insurance Company, a New Hampshire CorporationCourt of Appeals for the Ninth Circuit · 1988
- Avi Nakash, Joe Nakash, and Ralph Nakash v. Georges Marciano, Maurice Marciano, Armand Marciano, Paul MarcianoCourt of Appeals for the Ninth Circuit · 1989
- Fierle v. PerezCourt of Appeals for the Ninth Circuit · 2009