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In August 1998, Samantha and Kirk Anderson decided to hire Jimmy Cameron to sink the Valetta. Jimmy was to set up a bomb in the engine room. It was their attempt to rid themselves of their parternship with David. David found out the plan and decided to hire Jimmy himself to sink the boat, the day before the Anderson's planned on doing it.

What David didn't know was that Sam and Kirk had planned a party for the evening, Nancy Hughes' 80th surprise birthday party. David used the public event to dump Molly at the altar.
The party guests evacuate the boat.
Georgia decided to finally tell Samantha she was the daughter she gave up at birth.
While Nancy's party was going on, Eddie asked Margo to show him how to dance. Later, Eddie rescued Margo off the sinking ship and they were found by Tom. Not before they kissed, though.
Camille, still feeling bad after her breast cancer surgery, decided to attend Nancy's party after all. Brad supported her and they ended up stranded together after the explosion. They came close to kissing when Ben found them.
Hal rescued Barbara, who was distraught over remembering the fire where she lost Johnny.
David ended up missing. Molly was upset over being dumped and not knowing if David was alive or dead. James returned to Oakdale in time to mourn his son. He informed everyone that he was now a free man, after working a deal out with the government. Holden was only one of the many Oakdale residents who was shocked over the news.

Holden found out the plans and did his best to thwart the engine explosion. He was too late. Here are photos of him and Kirk after the explosion, before they got off the boat.
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