Seward & Kissel LLP successfully represented two banks, ABN AMRO and EFIC (the Australian government import/export bank), in a ship mortgage foreclosure action in Rochester, New York. This was the largest such action undertaken in the United States in the last decade. On behalf of the first and second mortgagees, Seward & Kissel (by Bruce Paulsen) successfully foreclosed upon the vessel (which was sold at judicial auction) and obtained full recovery on behalf of the banks, as well as defeated a number of maritime lien claims all of which were fully litigated.