EXHIBIT 25.1

This document was submitted to the SEC on behalf of General Maritime Subsidiary Corp. The original filing can be found at http://www.sec.gov/Archives/edgar/data/00011272...

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)  o

_________________

THE BANK OF NEW YORK MELLON

(Exact name of trustee as specified in its charter)

New York

 

13-5160382

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

     

One Wall Street

New York, New York

 

10286

(Address of principal executive offices)

 

(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

 

66-071-6485

(State or other jurisdiction

of incorporation or organization)

 

(I.R.S. Employer

Identification No.)

     

299 Park Avenue

New York, NY

 

10171

(Address of principal executive offices)

 

(Zip code)

_________________

Debt Securities

(Title of the indenture securities)

_________________

TABLE OF ADDITIONAL OBLIGORS

(Exact name of Additional Obligor as

Specified in its Charter)(1)

 

(State or Other

Jurisdiction of

Incorporation)

 

I.R.S. Employer

Identification

Number

General Maritime Subsidiary Corporation

 

Marshall Islands

 

06-1597083

General Maritime Management LLC

 

Marshall Islands

 

98-0385293

General Maritime (Portugal) LLC

 

Marshall Islands

 

N/A

General Maritime (Portugal) Limitada

 

Portugal

 

N/A

General Maritime Crewing Pte. Ltd.

 

Singapore

 

N/A

Limited “General Maritime Crewing” (Russia Corporation)

 

Russia

 

N/A

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 Constantine LLC

 

Liberia

 

98-0395161

GMR Daphne LLC

 

Marshall Islands

 

98-0588044

GMR Defiance LLC

 

Liberia

 

98-0425179

GMR Elektra LLC

 

Marshall Islands

 

98-0588046

GMR George T LLC

 

Marshall Islands

 

98-0550184

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 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 Strength LLC

 

Liberia

 

98-0425181

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

General Maritime Subsidiary II Corporation

 

Marshall Islands

 

98-0666034

GMR Atlas LLC

 

Marshall Islands

 

98-0666042

GMR Hercules LLC

 

Marshall Islands

 

98-0666039

GMR Maniate LLC

 

Marshall Islands

 

98-0666040

GMR Poseidon LLC

 

Marshall Islands

 

98-0666041

GMR Spartiate LLC

 

Marshall Islands

 

98-0666037

GMR Ulysses LLC

 

Marshall Islands

 

98-0666035

GMR Zeus LLC

 

Marshall Islands

 

98-0666038

(1) The address of the principal executive offices of each of the additional obligors listed above are the same as those of General Maritime Corporation.

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 23rd day of December, 2010.

 

THE BANK OF NEW YORK MELLON

       
       
 

By:

/s/ Beata Harvin

   

Name:

Beata Harvin

   

Title:

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, 2010, 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

  $ 2,892,000  

Interest-bearing balances

    71,640,000  

Securities:

       

Held-to-maturity securities

    3,857,000  

Available-for-sale securities

    55,342,000  

Federal funds sold and securities purchased under agreements to resell

       

Federal funds sold in domestic offices

    18,000  

Securities purchased under agreements to resell

    778,000  

Loans and lease financing receivables:

       

Loans and leases held for sale

    16,000  

Loans and leases, net of unearned income

    24,990,000  

LESS: Allowance for loan and lease losses

    517,000  

Loans and leases, net of unearned income and allowance

    24,473,000  

Trading Assets

    8,311,000  

Premises and fixed assets (including capitalized leases)

    1,140,000  

Other real estate owned

    7,000  

Investments in unconsolidated subsidiaries and associated companies

    916,000  

Not applicable

       

Intangible assets:

       

Goodwill

    6,371,000  

Other intangible assets

    1,852,000  

Other assets

    13,262,000  

Total assets

  $ 190,875,000  

EXHIBIT 7

(Page ii of iii)

LIABILITIES

     

Deposits:

     

In domestic offices

  $ 64,871,000  

Noninterest-bearing

    34,508,000  

Interest-bearing

    30,363,000  

In foreign offices, Edge and Agreement subsidiaries, and IBFs

    80,811,000  

Noninterest-bearing

    2,198,000  

Interest-bearing

    78,613,000  

Federal funds purchased and securities sold under agreements to repurchase

       

Federal funds purchased in domestic offices

    3,192,000  

Securities sold under agreements to repurchase

    27,000  

Trading liabilities

    9,222,000  

Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)

    2,228,000  

Not applicable

       

Not applicable

       

Subordinated notes and debentures

    3,490,000  

Other liabilities

    11,236,000  

Total liabilities

  $ 175,077,000  

Not applicable

       
         

EQUITY CAPITAL

       

Perpetual preferred stock and related surplus

    0  

Common stock

    1,135,000  

Surplus (exclude all surplus related to preferred stock)

    8,565,000  

Retained earnings

    6,545,000  

Accumulated other comprehensive income

    -809,000  

Other equity capital components

    0  

Total bank equity capital

    15,436,000  

Noncontrolling (minority) interests in consolidated subsidiaries

    366,000  
         

Total equity capital

    15,798,000  
         

Total liabilities, minority interest, and equity capital

  $ 190,875,000  

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

       
         

Public Document

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