  We consider a two-phase problem for two incompressible, viscous and
immiscible fluids which are separated by a sharp interface. The problem arises
as a sharp interface limit of a diffuse interface model. We present results on
local existence of strong solutions and on the long-time behavior of solutions
which start close to an equilibrium. To be precise, we show that as time tends
to infinity, the velocity field converges to zero and the interface converges
to a sphere at an exponential rate.
