Date: 19981203

Dossier: A-384-97

Coram :      PRATTE J.A.

         DESJARDINS J.A.

         DÉCARY J.A.

Between :      THIERRY VAN DOOSELAERE,

     FRANS G.A. DE ROY as Trustees in

     Bankruptcy of ABC Containerline N.V.,

     the Owners, Charterers and all others

     interested in the Ship "BRUSSEL" and

     THE SHIP "BRUSSEL"

     Appellants

     AND

     HOLT CARGO SYSTEMS INC.

     Respondent

     AND

     SOCIÉTÉ NATIONALE DE CRÉDIT A L'INDUSTRIE S.A.

     Intervenor

    

     Heard at Montreal, Quebec on Thursday, December 3, 1998

Judgment delivered from the Bench at Montreal, Quebec

on Thursday, December 3, 1998

REASONS FOR JUDGMENT OF THE COURT BY:      PRATTE J.A.

Date: 19981203

Dossier: A-384-97

CORAM:      PRATTE J.A.

         DESJARDINS J.A.

         DÉCARY J.A.

BETWEEN:

     THIERRY VAN DOOSELAERE,

     FRANS G.A. DE ROY as Trustees in

     Bankruptcy of ABC Containerline N.V.,

     the Owners, Charterers and all others

     interested in the Ship "BRUSSEL" and

     THE SHIP "BRUSSEL"

     Appellants

     AND

     HOLT CARGO SYSTEMS INC.

     Respondent

     AND

     SOCIÉTÉ NATIONALE DE CRÉDIT A L'INDUSTRIE S.A.

     Intervenor

    

     REASONS FOR JUDGMENT OF THE COURT

     (Delivered from the Bench at Montreal, Quebec

     on Thursday, December 3, 1998)

PRATTE J.A.

[1]      We cannot find fault with Mr. Justice MacKay's order. The Appellants' appeal and the Intervenor's cross-appeal will therefore be dismissed with costs.

     Louis Pratte

     j.c.a.

     FEDERAL COURT OF APPEAL

Date: 19981203

Docket: A-384-97

Between :

     THIERRY VAN DOOSELAERE,

     FRANS G.A. DE ROY as Trustees in Bankruptcy

of ABC Containerline N.V., the Owners,Charterers

     and all others interested in the Ship "BRUSSEL"

     and THE SHIP "BRUSSEL"

     Appellants

     AND

     HOLT CARGO SYSTEMS INC.

     Respondent

     AND

SOCIÉTÉ NATIONALE DE CRÉDIT À

L'INDUSTRIE S.A.

     Intervenor

    

    

     REASONS FOR JUDGMENT

    

     FEDERAL COURT OF CANADA

     APPEAL DIVISION

     NAMES OF COUNSEL AND SOLICITORS OF RECORD

COURT NUMBER:             A-384-97

STYLE OF CAUSE:             THIERRY VAN DOOSELAERE,

                        FRANS G.A. DE ROY as Trustees in Bankruptcy

                        of ABC Containerline N.V., the Owners, Charterers

                        and all others interested in the Ship "BRUSSEL" and

                        THE SHIP "BRUSSEL"

     Appellants

                        AND

                        HOLT CARGO SYSTEMS INC.

     Respondent

                        AND

                        SOCIÉTÉ NATIONALE DE CRÉDIT A

                        L'INDUSTRIE S.A.

     Intervenor

PLACE OF HEARING:             Montreal, Québec

DATE OF HEARING:             December 3, 1998

Reasons for Judgment of the Court (Pratte, Desjardins, Décary JJ.A.) delivered from the bench by:

                        Pratte J.A.

DATED:                      December 3, 1998

     - 2 -

APPEARANCES:

Mr. David G. Colford             for the Appellants

Mr. Richard F. Southcott             for the Respondent

Mr. Louis Charette                  for the Intervenor

SOLICITORS OF RECORD:

Brisset Bishop                  for the Appellants

Montreal, Quebec

Stewart McKelvey Stirling Scales          for the Respondent

Halifax, Nova Scotia

McInnes Cooper & Robertson

Halifax, Nova Scotia

Lavery DeBilly                  for the Intervenor

Montreal, Quebec