In Re M v. "Floreana"

Opinion on Further Security

HUGHES, District Judge.

1. Introduction.

Last summer, the M.V. Floreana capsized at a dock in the Port of Houston. Its salvage value is roughly $10,000. She rolled and sank as cargo was being stowed.

The Floreana was owned by Inmar Shipping Company. The owner has brought an action to limit its liability. Claimants have asked that the court order the owner to pay the proceeds of its hull insurance into the registry of the court as security for losses attendant on the sinking that exceed the residual value of the vessel.

2. Vessel Interests.

Inmar is a Panamanian…