MEMORANDUM OPINION AND ORDER
KRAM, District Judge.
In this admiralty action, defendant China Steel Corporation ("CSC") moves, pursuant to Rules 60(b)(1) and 60(b)(4) of the Federal Rules of Civil Procedure, for an order vacating a default judgment signed by the Court on May 7, 1992, and entered on May 13, 1992, and dismissing the complaint. For the reasons that follow, CSC's motion is granted, the default judgment is vacated, and the action is dismissed...
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