MEMORANDUM
HUNGATE, District Judge.
This matter is before the Court for a decision on the merits following a two-day bench trial commencing on April 14, 1981. Plaintiff brings this admiralty action as the subrogee of its insured, seeking to recover sums paid pursuant to an insurance policy for fire damage sustained to the hull of the yacht, "Antiqua."
Having considered the pleadings, trial testimony, exhibits, stipulations of the parties, briefs...
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