Admiralty jurisdiction - Financial services provided by intermediary bank to cruise line operator whereby bank received customer payments from Visa and Mastercard and paid monies into accounts segregated by vessel name - Cruise line operator becoming insolvent - Bank incurring "charge back" liability to Visa and Mastercard

Freret Marine Supply v The "Enchanted Capri" etc - US Court of Appeals (5th Cir) (Garza and Dennis Ct JJ and Head DJ) - 21 August 2003

Following the insolvency of New Commodore Cruise Lines ("Commodore") and its vessel-owning affiliates, various creditors filed in rem claims against the cruise vessels Enchanted Capri and Enchanted Isle. The vessels were subsequently sold at public auction. A number of claimants now competed for the limited funds generated by the sales. One of the intervening claimants was Harris Trust & Savings Bank ("Harris").