Pan American Bank v. Oil Screw Denise

POLITZ, Circuit Judge:

Invoking admiralty jurisdiction the Pan American Bank of Miami (Bank) foreclosed on a first preferred ship’s fleet mortgage against Marine Exploration Company, Inc. (Marine). Tracor Marine, Inc. (Tracor) intervened asserting an in rem claim for a repair bill against a Marine vessel, the Tammy W. After a bench trial the district court rendered judgment in favor of the Bank against Marine in personam and several Marine vessels in rem, and in favor of Tracor against the Tammy W. in rem. We affirm.

This litigation involves several consolidated actions. The Bank first filed in…