Evergreen Marine Corp. v. Six Consignments of Frozen Scallops
Court of Appeals for the First Circuit
1Opinion of the Court
CYR, Circuit Judge.
Appellant Evergreen Marine Corporation, an ocean carrier, was fraudulently induced to discharge six consignments of frozen scallops, valued at $1.2 million, to Gloucester Corporation, without taking up possession of the bills of lading. After Gloucester became insolvent, the discharged scallops were seized by appellees Fleet National Bank and Cooperative Céntrale Raiffeisen-Boerenleenbank B.A. (hereinafter, collectively, “the Banks”), holders of security interests in Gloucester’s after-acquired inventory. The district court entered summary judgment for the Banks on…
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