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IN RE PANOCEANIC TANKERS CORPORATION

No. 67 Civ. 4489.

332 F.Supp. 313 (1971)

In the Matter of the Complaint of PANOCEANIC TANKERS CORPORATION, as Owner of the STEAMSHIP PANOCEANIC FAITH, for Exoneration from, or Limitation of, Liability.

United States District Court, S. D. New York.

March 8, 1971.

Attorney(s) appearing for the Case

Hill, Betts & Nash, New York City, for plaintiff.

Baker, Nelson, Williams & Mitchell, Schulman, Abarbanel, Perkel & McEvoy, Pressman & Scribner, Marvin Schwartz, Herbert J. DeVarco, New York City, for claimants.

MEMORANDUM

COOPER, District Judge.

Claimants' motion requests this Court to issue an order directing petitioner to deposit security to insure their potential judgments in the event the petition for exoneration or limitation of liability is defeated.

$4,500,000 security

Claimants' application for the posting of $4,500,000 security is denied. We do not consider the fund provisions of 46...

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