THE “PAN OAK”
[1992] 2 Lloyd's Rep. 36
QUEEN’S BENCH DIVISION(ADMIRALTY COURT)
Before Mr. Justice Sheen
Admiralty practice - Payment out - Priority - Sale of bunker oil carried on vessel - Proceeds paid into Court - Plaintiffs claimed priority in payment out on ground they were secured creditors - Whether bunkers part of security for loan granted by plaintiffs - Whether proceeds of bunkers available for distribution pari passu between all creditors.