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IN RE HTI SHIPPING, INC.

Bankruptcy No. 87-05100.

78 B.R. 25 (1987)

In re HTI SHIPPING, INC., and Island Shipping Lines, Ltd., Debtors.

United States Bankruptcy Court, D. New Jersey.

August 31, 1987.

Attorney(s) appearing for the Case

Ravin, Sarashohn, Cook, Baumgarten, Fisch & Baime by Robert A. Baime and Sharon L. Levine, Roseland, N.J., Freehill, Hogan & Mahar, Sp. Maritime Counsel by Nathan Bayer and Alex Vitale, New York City, for debtors.

Hannock Weisman, by Jack Gillman, Roseland, N.J., for Authority of Guam.

U.S. Maritime Admin. by Richard Lorr, Washington, D.C.

OPINION

WILLIAM F. TUOHEY, Bankruptcy Judge.

On August 19, 1987, the debtors filed separate petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. This Court, on the date of the filing, entered an order calling for the joint administration of the above two debtors' estates.

Island Shipping Lines Ltd. (ISL) is principally engaged in the shipping business on the island of Guam, and operates two American flag cargo ships...

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