Strauss v. Princess Anne Marine

This is a dispute among various lienors over a fund representing the surplus of the proceeds of a foreclosure sale of property known as the Sea Mist Motel in the city of Norfolk. The principal contenders are the Princess Anne Marine and Bulkheading Company, Inc., the holder of a mechanic’s lien, LaVerne T. Motko Strauss, the holder of four promissory notes secured by deeds of trust, and American Acceptance Corporation, the holder of two judgments.

S & L Enterprises, Inc., was the owner of the Sea Mist Motel on Chesapeake Bay. On March 7, 1962, a severe storm, known as the Ash Wednesday storm,…