EX-25.1 8 ex25_1.htm EXHIBIT 25.1 ex25_1.htm
Exhibit 25.1

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM T-1


STATEMENT OF ELIGIBILITY UNDER THE TRUST
INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
TRUSTEE PURSUANT TO SECTION 305(b)(2)  [  ]

_________________

The Bank of New York Mellon
(Exact name of trustee as specified in its charter)

New York
(Jurisdiction of incorporation
if not a U.S. national bank)
13-5160382
(I.R.S. Employer
Identification No.)
   
One Wall Street
New York, New York
(Address of principal executive offices)
 
10286
(Zip code)

Legal Department
The Bank of New York Mellon
One Wall Street, 15th Floor
New York, NY  10286
(212) 635-1270
(Name, address and telephone number of agent for service)


General Maritime Corporation
(Exact name of obligor as specified in its charter)
(See table of additional obligors on following page)


Republic of the Marshall Islands
(State or other jurisdiction
of incorporation or organization)
66-071-6485
(I.R.S. Employer
Identification No.)
   
299 Park Avenue
New York, New York
(Address of principal executive offices)
10171
(Zip code)

_________________

Debt Securities
(Title of the indenture securities)
_________________

 
 
 

TABLE OF ADDITIONAL OBLIGORS

Exact Name of Additional
Registrants*
  
State or Other Jurisdiction
 of  Incorporation or
Organization
  
IRS Employee
Identification Number
General Maritime Subsidiary Corporation
  
Marshall Islands
  
06-1597083
General Maritime Management LLC
  
Marshall Islands
  
98-0385293
General Maritime Management (UK) LLC
  
Marshall Islands
  
N/A
General Maritime Management (Hellas) Ltd.
  
Liberia
  
N/A
General Maritime Management (Portugal) LDA.
  
Marshall Islands
  
N/A
General Maritime Management (Portugal) Limitada
  
Portugal
  
N/A
General Maritime Crewing Pte Ltd. (Singapore Corporation)
  
Singapore
  
N/A
General Maritime Crewing Ltd. (Russia Corporation)
  
Russia
  
N/A
GMR Administration Corp.
  
Marshall Islands
  
46-0508901
GMR Agamemnon LLC
  
Liberia
  
98-0395170
GMR Ajax LLC
  
Liberia
  
98-0395169
GMR Alexandra LLC
  
Marshall Islands
  
98-0385176
GMR Argus LLC
  
Marshall Islands
  
98-0395206
GMR Chartering LLC
  
United States (New York)
  
83-0467351
GMR Constantine LLC
  
Liberia
  
98-0395161
GMR Daphne
  
Marshall Islands
  
98-0588044
GMR Defiance LLC
  
Liberia
  
98-0425179
GMR Electra
  
Marshall Islands
  
98-0588046
GMR George T
  
Marshall Islands
  
98-0550184
GMR GP LLC
  
Marshall Islands
  
98-0536548
GMR Gulf LLC
  
Marshall Islands
  
98-0395216
GMR Harriet G. LLC
  
Liberia
  
98-0486381
GMR Hope LLC
  
Marshall Islands
  
98-0395218
GMR Horn LLC
  
Marshall Islands
  
98-0395220
GMR Kara G LLC
  
Liberia
  
98-0513241
GMR Limited LLC
  
Marshall Islands
  
98-0536550
GMR Minotaur LLC
  
Liberia
  
98-0395188
GMR Orion LLC
  
Marshall Islands
  
98-0395227
GMR Phoenix LLC
  
Marshall Islands
  
98-0395229
GMR Princess LLC
  
Liberia
  
98-0395231
GMR Progress LLC
  
Liberia
  
98-0395232
GMR Revenge LLC
  
Liberia
  
98-0425180
GMR St. Nikolas LLC
  
Marshall Islands
  
98-0555133
GMR Spyridon LLC
  
Marshall Islands
  
98-0395238
GMR Star LLC
  
Liberia
  
98-0395191

 
 
 
 
GMR Strength LLC
  
Liberia
  
98-0425181
GMR Trader LLC
  
Liberia
  
98-0395190
GMR Trust LLC
  
Liberia
  
98-0395192
Arlington Tankers Ltd.
  
Bermuda
  
98-0604955
Vision Ltd.
  
Bermuda
  
98-0471654
Victory Ltd.
  
Bermuda
  
98-0471655
Companion Ltd.
  
Bermuda
  
98-0471656
Compatriot Ltd.
  
Bermuda
  
98-0471657
Concord Ltd.
  
Bermuda
  
98-0471658
Consul Ltd.
  
Bermuda
  
98-0471659
Concept Ltd.
  
Bermuda
  
98-0481425
Contest Ltd.
  
Bermuda
  
98-0481426
Arlington Tankers, LLC
  
Delaware
  
06-1751131

* The address of the principal executive offices of each additional registrant is c/o General Maritime Corporation, 299 Park Avenue, New York, New York 10171.

 
 
 

Item 1.   General Information.

Furnish the following information as to the Trustee:

(a)
Name and address of each examining or supervising authority to which it is subject.

Superintendent of Banks of the State of New York
One State Street, New York, N.Y. 10004-1417 and Albany, N.Y. 12223
Federal Reserve Bank of New York
33 Liberty Plaza, New York, N.Y. 10045
Federal Deposit Insurance Corporation
550 17th Street, N.W., Washington, D.C. 20429
New York Clearing House Association
New York, N.Y. 10005

(b)
Whether it is authorized to exercise corporate trust powers.

Yes.

Item 2.    Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

None.

Item 16.   List of Exhibits.

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 (the "Act") and 17 C.F.R. 229.10(d).

 
1.
-
A copy of the Organization Certificate of The Bank of New York Mellon (formerly The Bank of New York (formerly Irving Trust Company)) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers.  (Exhibit 1 to Amendment No. 1 to Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672, Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637, Exhibit 1 to Form T-1 filed with Registration Statement No. 333-121195 and Exhibit 1 to Form T-1 filed as Exhibit 25.1 to Current Report on Form 8-K of Nevada Power Company, Date of Report (Date of Earliest Event Reported) July 25, 2008 (File No. 000-52378).)

 
4.
-
A copy of the existing By-laws of the Trustee.  (Exhibit 4 to Form T-1 with Registration Statement No. 333-155238.)

 
6.
-
The consent of the Trustee required by Section 321(b) of the Act.  (Exhibit 6 to Form T-1 filed with Registration Statement No. 333-152856.)

 
7.
-
A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority.

 
 
 

SIGNATURE

Pursuant to the requirements of the Act, the Trustee, The Bank of New York Mellon, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York, and State of New York, on the 10 day of February, 2009.


 
THE BANK OF NEW YORK MELLON
  
         
         
         
 
By:
/s/ Beata Harvin
  
   
Name:   
Beata Harvin
  
   
Title:
Assistant Vice President
  

 
 
 

EXHIBIT 7
(Page i of iii)
Consolidated Report of Condition of
THE BANK OF NEW YORK MELLON
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business September 30, 2008, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.

ASSETS
  
Dollar Amounts
In Thousands
  
Cash and balances due from depository institutions:
      
Noninterest-bearing balances and currency and coin
   $ 44,129,000  
Interest-bearing balances
     48,207,000  
Securities:
        
Held-to-maturity securities
     7,661,000  
Available-for-sale securities
     39,616,000  
Federal funds sold and securities purchased under agreements to resell
        
Federal funds sold in domestic offices
     877,000  
Securities purchased under agreements to resell
     4,598,000  
Loans and lease financing receivables:
        
Loans and leases held for sale
     0  
Loans and leases, net of unearned income
     46,218,000  
LESS: Allowance for loan and lease losses
     324,000  
Loans and leases, net of unearned income and allowance
     45,894,000  
Trading Assets
     6,900,000  
Premises and fixed assets (including capitalized leases)
     1,087,000  
Other real estate owned
     7,000  
Investments in unconsolidated subsidiaries and associated companies
     858,000  
Not applicable
        
Intangible assets:
        
Goodwill
     5,026,000  
Other intangible assets
     1,619,000  
Other assets
     12,220,000  
Total assets
   $ 218,699,000  
         

 
 
 

EXHIBIT 7
(Page ii of iii)

LIABILITIES
      
Deposits:
      
In domestic offices
   $ 103,521,000  
Noninterest-bearing
     80,077,000  
Interest-bearing
     23,444,000  
In foreign offices, Edge and Agreement subsidiaries, and IBFs
     67,951,000  
Noninterest-bearing
     2,259,000  
Interest-bearing
     65,692,000  
Federal funds purchased and securities sold under agreements to repurchase
        
Federal funds purchased in domestic offices
     4,367,000  
Securities sold under agreements to repurchase
     76,000  
Trading liabilities
     5,676,000  
Other borrowed money:
       
(includes mortgage indebtedness and obligations under capitalized leases) 
      12,514,000  
Not applicable
        
Not applicable
        
Subordinated notes and debentures
     3,490,000  
Other liabilities
     8,209,000  
Total liabilities
   $ 205,804,000  
Minority interest in consolidated subsidiaries
     473,000  
         
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     1,135,000  
Surplus (exclude all surplus related to preferred stock)
     6,764,000  
Retained earnings
     6,564,000  
Accumulated other comprehensive income
     -2,041,000  
Other equity capital components
     0  
Total equity capital
     12,422,000  
Total liabilities, minority interest, and equity capital
   $ 218,699,000  

 
ii
 

EXHIBIT 7
(Page iii of iii)



I, Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and belief.

 
Thomas P. Gibbons,
  
 
Chief Financial Officer
  

We, the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions and is true and correct.

Gerald L. Hassell
    
Steven G. Elliott
  
Directors
Robert P. Kelly
    
 
 
iii