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AUXILIARY POWER CORPORATION v. ECKHARDT & CO.

No. 66 Ad 632.

266 F.Supp. 1020 (1966)

In the Matter of the Arbitration between AUXILIARY POWER CORPORATION, Owner of the S. S. POWERAUX ROGER, Petitioner, and ECKHARDT & CO., G. m. B. H., Respondent. Under Contract of Sale of the S.S. Poweraux Roger dated April 8, 1964.

United States District Court S. D. New York.

November 3, 1966.

Attorney(s) appearing for the Case

Poles, Tublin & Patestides, by Theodore P. Daly, New York City, for petitioner.

Haight, Gardner, Poor & Havens, by John C. Moore, New York City, for respondent.

OPINION

TYLER, District Judge.

Upon motion and cross-motion, respectively, to confirm and to vacate an award of arbitrators entered on May 2, 1966, the following facts are pertinent.

By contract of sale dated April 8, 1964, Auxiliary Power Corp. ("Seller") agreed to sell a vessel, the "S.S. Poweraux Roger", to Eckhardt & Co. ("Buyer") for scrapping. The contract provided that the Buyer would open an irrevocable letter of credit in favor of the...

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