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Coby (Captain Coby), who was recommended to him by Weller, to
oversee the restoration work being done on the Feadship. In July
of 1991, and for the first time during petitioner’s ownership of
the Feadship, the Feadship was removed from the water for
inspection of the steel hull, as a result of which extensive rust
on and corrosion to the hull of the Feadship were observed.
Thereafter, Captain Coby mailed periodic letters to petitioner,
reporting on the continuing problems with Angus’s work on the
Feadship.
As of November 21, 1991, petitioner had paid Angus $428,647,
and Angus had billed petitioner an additional $527,637 for
restoration work on the Feadship.
In November of 1991, Captain Coby advised petitioner that
the restoration work being performed by Angus on the Feadship had
become a “gravy train” for Angus. At that time, petitioner
refused to pay Angus the above $527,637 in additional charges
relating to work that had been done on the Feadship during August
through November of 1991.
On December 6, 1991, Angus filed suit against petitioner,
seeking to enforce a maritime lien against the Feadship relating
to Angus’s outstanding charges to petitioner.
In the spring of 1992, petitioner obtained tax advice from a
Washington, D.C. law firm relating to the Feadship. At that
time, petitioner’s costs relating to his purchase and to the
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