PERTH AMBOY IRON WORKS, INC., A NEW JERSEY CORPORATION, AND BOCRA CHARTERS, INC., A DELAWARE CORPORATION, PLAINTIFFS-RESPONDENTS, v. AMERICAN HOME ASSURANCE COMPANY, AMERICAN INTERNATIONAL MARINE AGENCY OF N.Y., INC., THE HALLAND AGENCY, INC., BARBARA A. FLYNN, B.D. ROBINSON, JOHN GAUNT, TIMOTHY TINDALL, R. SLUKA, MICHAEL J. MELOCHE, D.E. BRADEN, DON MANN, WALTER E. JOHNSON, JR., PETER JOHNSON, PETER W. ANGEL, JUAN ORTEGA, JOE VOIGT, JOHN DEL PERSIO, JOHN E. LEEK, JR., RALPH LEEK, FRED METZ, VERNON F. WALKER, H.B. SESSIONS, DAVID MARTIN, RENDEVOUS BAY YACHT SALES, INC., ROBERT C. BUCKLEY, MAL-GAR BEACH, INC., T/A COMSTOCK MARINE, LARRY GAHR, KEY POWER, INC., TORBERT & ASSOCIATES, LTD., N.T. TORBERT, WESTERN BRANCH DIESEL, INC., FRED DICKERSON, ROBERT ROWE, ROBERT POSSIANT, JOHN DOE, COASTAL POWER PRODUCTS, INC., R. DESMOND, AIR RESEARCH, A DIVISION OF GARRETT CORPORATION; KEY MARINE CORPORATION, THE YARD, INC., AND GEORGE W. FAUVER, DEFENDANTS, AND DETROIT DIESEL ALLISON, A DIVISION OF GENERAL MOTORS CORPORATION, AND JOHNSON & TOWERS, INC., DEFENDANTS-APPELLANTS, AND OCEAN YACHTS, INC., DEFENDANT-RESPONDENT