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IN THE MATTER OF TOPGALLANT LINES, INC.

Bankruptcy No. 89-41996, Adversary No. 90-4072.

208 B.R. 589 (1996)

In the Matter of TOPGALLANT LINES, INC., Debtor. AMBASSADOR FACTORS, Plaintiff, v. FIRST AMERICAN BULK CARRIER, Defendant.

United States Bankruptcy Court, S.D. Georgia, Savannah Division.

December 17, 1996.

Attorney(s) appearing for the Case

John M. Tatum, Savannah, GA, for plaintiff.

Kathleen Horne, Savannah, GA, for defendant.

ORDER

LAMAR W. DAVIS, Jr., Bankruptcy Judge.

Pursuant to the terms of the Pre-Trial Orders entered by this Court on August 12, 1996, and August 30, 1996, a trial was held in the above-captioned adversary on September 27, 1996. At issue, as set forth in those orders, is the relative narrow question of whether the freights of the last voyage of the M/V Delaware Bay were earned by the Debtor and are, therefore, subject to security interest of Ambassador...

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