Queen did not exceed the reserve set by MARAD, accordingly the vessel was not sold at auction. Instead, with court approval, MARAD exercised its rights with respect to the Columbia Queen.
(4) The Coastal Vessels. On March 18, 2002, the Bankruptcy Court signed a Stipulation and Order Granting Limited Modification of the Automatic Stay as to the Cape Cod Light, whereby the Debtors turned over the Cape Cod. Light to MARAD and AMI. On April 9, 2002, the Bankruptcy Court signed a Stipulation and Order Granting Limited Modification of the Automatic Stay as to the Cape May Light, whereby the Debtors turned over the Cape May Light to MARAD and AMI.
(5) The Project America Vessels.

After the bankruptcy filing, the Project America Vessels also were turned over to MARAD. InDQSC was in the positive range of $151 to $196 million. Calvert concluded that DQSC also was solvent as of the Transfer Date.
The Plaintiffs argue that Calvert's analysis is flawed and, therefore, the Banks failed to rebut the presumption of insolvency. First, they argue that Calvert's reliance on reports and projections prepared by the Debtors' management for determining the future cash flows is misplaced, since those reports and projections were speculative and inconsistent with the Debtors' past performance and current financial situation. The Plaintiffs argue *511 that, beginning in 1999, the Debtors embarked on a plan to expand their fleet of ships, which increased their debt substantially and caused the Debtors' financial condition to deteriorate into insolvency. (See Tr. at 366-68). In particular, the Debtors' operations expanded from