ORDER
BEEKS, District Judge.
Plaintiff has a preferred ship mortgage on a vessel owned by a nonparty to this action, George McLeod. As protection for its security, plaintiff required that McLeod maintain an insurance policy on subject vessel naming plaintiff as loss payee. McLeod obtained such policy from defendants. On September 1, 1981, during the coverage period of said policy, the subject vessel sank after allision with a reef. Subsequently, said vessel...
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