Ferro Union v. m/v Tamamonta
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DMC/SandT/04/48 DMC Category: Developed Case Note contributed Brian P. Devine, an attorney with the firm of Healy & Baillie, LLP, New York. Healy & Baillie are the International Contributors to this website for the United States Facts Subrogated to the cargo interests’ rights, the insurer then pursued recovery against the carrier. Judgment The court also rejected plaintiff’s alternative calculation of damages based on a survey report, which purported to estimate the proper depreciation value to be applied to the shipment. The court held that since the survey report lacked specificity or detail, the surveyor’s conclusions constituted little more than speculation about the quantum of damages. Under the ordinary damage formulation, the market price of the damaged goods may be measured by either an actual sale price or by a readily discernable market price for the damaged goods. Plaintiff could not show the damaged steel was sold at a discount, nor could it demonstrate a discernable market price, since the damaged goods were never segregated from non-damaged pipes before being sold. The court concluded that the survey report was the product of guesswork and provided insufficient evidence to meet plaintiff’s burden of establishing damages with reasonable certainty. |
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