North Saskatchewan Riverboat Co. Ltd. v. Edmonton Queen ( The )
T-992-95
Hargrave P.
25/5/95
8 pp.
Motion by defendants to obtain release of vessel Edmonton Queen from arrest by setting aside arrest or to release vessel without or with bail -- Two Alberta numbered limited companies, defendants herein, purchasing Edmonton Queen on court-ordered sale at price of $800,000 -- Plaintiffs claiming one-third ownership interest in vessel and in defendants' total operation-Also claiming $1 million in damages for breach of agreement and breach of duty of good faith -- Vessel not purchased free and clear of claims arising out of actions of defendants as owners-Plaintiffs' action not frivolous -- Plaintiff commencing in rem claim in Federal Court by issuing statement of claim also has right to invoke arrest procedure in order to obtain security -- While plaintiffs entitled to reasonable security, security should not be so onerous as to deprive owners of use and earnings -- Each case to be looked at in own particular context in order to decide on appropriate form of security -- Edmonton Queen to be released on certain terms and conditions -- Defendants not to sell or charter vessel or to move vessel out of jurisdiction -- Security shall be in form of insurance at full insurable value from time to time of vessel.