Court Denies Monition in Limitation Action For Failure to Provide Surety or Proof of Value of Vessel
In re Island Time Watersports, LLC, 2021 U.S. Dist. LEXIS 213531 *; 2021 WL 5146179 (D.V.I. Nov. 4, 2021).
The plaintiff is the owner of the vessel, THE ISLAND CHASER, and filed a claim to limit its liability when suit for personal injury was filed against it. In seeking limitation the vessel owner must provide an ad interim stipulation of the value of the vessel and either surrender the vessel, deposit with the court a sum equal to the owner’s interest in the vessel plus pending freight, or provide security equal to the owner’s interest in the vessel plus pending freight which also must be approved. (Citing Supplemental Rule F(1) and New York Marine Managers, Inc. v. Helena Marine Serv., 758 F.2d 313 [8th Cir. 1985]).
In the subject case, the court denied entry of the ad interim stipulation because the owner failed to provide sufficient support for the value of the vessel stated as $150,000 and also failed to provide an approved surety for the stated value. The motion for entry of the ad interim stipulation and monition was denied without prejudice.
