In re Catalina Island Sightseeing Lines

Geotechnical Corporation etc. v. Pure Oil Co., 5 Cir., 1952, 196 F.2d 199 , cer-tiorari denied 344 U.S. 874 , 73 S.Ct. 165 , 97 L.Ed. 681 , clearly points out the difference between the alternate procedures allowed to a vessel owner under 46 U.S. C.A. § 185. The owner may, at his option, proceed either under subdivision (a) of that Section, and retain his cause of action, or, the owner may proceed under subdivision (b) and transfer his interest in the vessel to a trustee for the benefit of claimants.

The owners elected to proceed under subdivision (b) of 46 U.S.C.A. § 185 . Pursuant to that section, on petition of the owner, the Court appointed a trustee and on March 2, 1959, transferred to the trustee, for the benefit of all claimants, the interest of the owner in the vessel “Pacifico,” “and in any wreckage, strip-pings, proceeds or trace” of said Pacifico. Even without the broad language included in the Order of Transfer (drawn by the owner), it has been settled since O’Brien v. Miller, 1897, 168 U.S. 287, 302-303 , 18 S.Ct. 140 , 42 L.Ed. 469 that, when an owner elects to transfer the vessel to a trustee under 46 U.S.C.A. § 185 (b), the transfer carries with it “all rights of…