Legal Opinion
Merchants National Bank of Mobile v. The Vessels Ward Rig No. 7
Court of Appeals for the Fifth Circuit
Decided January 22, 1981No. 78-3204PublishedCited by 16 opinions
1Opinion of the Court
POLITZ, Circuit Judge:
This appeal poses the question whether three mortgages held by the Bank of Mobile are entitled to the status of preferred ship mortgages under the Ship Mortgage Act, 1920, 46 U.S.C. §§ 911-984, and thus prime the liens and claims of appellants. The district court adopted the thorough and comprehensive findings and recommendations of the magistrate and upheld the validity and primacy of the mortgages. We affirm. We also hold that 46 C.F.R. § 67.45-1 (1979) is invalid.
Context Facts
This case involves what appears to be a typical sale and loan security transaction, with a…
2Cases cited8 opinions
- Manhattan General Equipment Co. v. Commissioner of Internal RevenueSupreme Court of the United States · 1936
- Bogart v. the Steamboat John JaySupreme Court of the United States · 1855
- Port Welcome Cruises, Inc. v. S. S. Bay BelleDistrict Court, D. Maryland · 1963
- Tropicana Shipping, S.A. v. Empresa Nacional "Elcano" De La Marina MercanteCourt of Appeals for the Fifth Circuit · 1966
- The FavoriteCourt of Appeals for the Second Circuit · 1941
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3Cited by16 opinions
- United States v. Victor Manuel Stuart-Caballero, Amador Ortega and Armando Arias DiazCourt of Appeals for the Eleventh Circuit · 1982
- In Re Pasquale Alberto, Debtor. Appeal of Maryland National BankCourt of Appeals for the Third Circuit · 1987
- Kopac International, Inc. v. M/V Bold VentureDistrict Court, W.D. Washington · 1986
- In Re McLean Industries, Inc.United States Bankruptcy Court, S.D. New York · 1987
- Chase Manhattan Financial Services, Inc. v. McMillianCourt of Appeals for the Tenth Circuit · 1990
11 more not listed; retrieve them via the Exa API.