First Fidelity Bank v. Companhia De Navegacao

MEMORANDUM DECISION

GOETTEL, District Judge.

Plaintiff First Fidelity Bank N.A. New Jersey brings this action as assignee of the accounts receivable of Sealand Terminal Corp. (“Sealand”), a stevedoring company that filed for bankruptcy in May 1984. Sealand was itself the successor in interest to United Terminals, Inc. (“United”). By order of the United States Bankruptcy Court for the District of New Jersey, the plaintiff was authorized and empowered to institute and maintain this action against defendant Companhia de Navegacao Marítima Netumar (“Netumar”).

From 1971 to 1983, United, and later,…